Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 84.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,934 shares of the cell phone carrier’s stock after acquiring an additional 57,041 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Verizon Communications were worth $5,156,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications during the second quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the second quarter valued at $33,000. Finally, Vima LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at $36,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a report on Monday, September 9th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Scotiabank raised their target price on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Finally, KeyCorp decreased their target price on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $45.66.

Verizon Communications Price Performance

Shares of VZ opened at $44.43 on Monday. The company has a market capitalization of $187.03 billion, a price-to-earnings ratio of 16.58, a P/E/G ratio of 3.99 and a beta of 0.42. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $44.47. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The business’s 50-day moving average is $41.17 and its 200-day moving average is $40.64.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Equities research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.10%. Verizon Communications’s payout ratio is presently 99.25%.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).