Fiduciary Group LLC Has $8.31 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Fiduciary Group LLC raised its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,581 shares of the cell phone carrier’s stock after acquiring an additional 1,998 shares during the period. Fiduciary Group LLC’s holdings in Verizon Communications were worth $8,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Vanguard Group Inc. boosted its position in shares of Verizon Communications by 2.7% during the first quarter. Vanguard Group Inc. now owns 330,221,086 shares of the cell phone carrier’s stock worth $16,821,462,000 after buying an additional 8,570,818 shares during the period. BlackRock Inc. boosted its position in Verizon Communications by 4.8% during the first quarter. BlackRock Inc. now owns 304,700,845 shares of the cell phone carrier’s stock valued at $15,521,461,000 after purchasing an additional 13,959,954 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Verizon Communications by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 59,782,122 shares of the cell phone carrier’s stock valued at $3,045,303,000 after purchasing an additional 2,934,928 shares during the last quarter. Capital World Investors boosted its position in Verizon Communications by 7.7% during the first quarter. Capital World Investors now owns 49,879,143 shares of the cell phone carrier’s stock valued at $2,540,898,000 after purchasing an additional 3,568,252 shares during the last quarter. Finally, FMR LLC boosted its position in Verizon Communications by 15.1% during the second quarter. FMR LLC now owns 46,131,882 shares of the cell phone carrier’s stock valued at $2,341,192,000 after purchasing an additional 6,042,854 shares during the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of VZ stock traded down $0.28 during trading hours on Thursday, reaching $38.92. The company’s stock had a trading volume of 14,170,012 shares, compared to its average volume of 21,782,224. The firm’s 50 day simple moving average is $38.01 and its 200-day simple moving average is $44.21. The company has a market capitalization of $163.46 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.82 and a beta of 0.38. Verizon Communications Inc. has a fifty-two week low of $34.55 and a fifty-two week high of $55.51. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 1.50.

Verizon Communications (NYSE:VZGet Rating) last issued its earnings results on Friday, October 21st. The cell phone carrier reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.03. The firm had revenue of $34.20 billion for the quarter, compared to the consensus estimate of $33.79 billion. Verizon Communications had a return on equity of 25.80% and a net margin of 14.22%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 5.19 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 7th were issued a dividend of $0.6525 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date was Thursday, October 6th. This represents a $2.61 annualized dividend and a dividend yield of 6.71%. Verizon Communications’s dividend payout ratio (DPR) is 56.62%.

Analysts Set New Price Targets

Several research analysts recently commented on VZ shares. Credit Suisse Group reduced their price target on Verizon Communications to $43.00 in a research report on Thursday, October 27th. Wells Fargo & Company dropped their price objective on Verizon Communications from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, October 7th. Morgan Stanley dropped their price objective on Verizon Communications from $58.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. Raymond James dropped their price objective on Verizon Communications from $54.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, October 24th. Finally, Citigroup lowered their target price on Verizon Communications from $48.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $48.60.

Verizon Communications Profile

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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