Mn Services Vermogensbeheer B.V. Has $73.03 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Mn Services Vermogensbeheer B.V. reduced its position in Verizon Communications Inc. (NYSE:VZ) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,626,200 shares of the cell phone carrier’s stock after selling 35,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Verizon Communications were worth $73,033,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications during the first quarter worth about $25,000. Accordant Advisory Group Inc raised its holdings in shares of Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications during the 2nd quarter valued at about $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications in the 2nd quarter worth about $33,000. Finally, McClarren Financial Advisors Inc. increased its holdings in Verizon Communications by 762.6% during the third quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after buying an additional 938 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of NYSE:VZ traded up $0.01 during trading on Monday, hitting $41.37. 1,618,181 shares of the company traded hands, compared to its average volume of 18,526,988. The stock has a market capitalization of $174.15 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 3.06 and a beta of 0.43. The business’s fifty day moving average is $43.17 and its 200-day moving average is $41.36. Verizon Communications Inc. has a one year low of $35.40 and a one year high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. As a group, equities analysts predict that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.678 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.56%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is presently 116.81%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VZ shares. TD Cowen raised their price target on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Tigress Financial increased their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

About Verizon Communications

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).