Nations Financial Group Inc. IA ADV boosted its stake in Verizon Communications Inc. (NYSE:VZ – Free Report) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,766 shares of the cell phone carrier’s stock after buying an additional 818 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Verizon Communications were worth $1,846,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications in the 1st quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications in the fourth quarter worth $29,000. MFA Wealth Advisors LLC bought a new position in Verizon Communications in the 2nd quarter valued at $33,000. Vima LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $36,000. Finally, Pittenger & Anderson Inc. raised its stake in shares of Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 296 shares during the period. 62.06% of the stock is currently owned by institutional investors.
Verizon Communications Price Performance
Verizon Communications stock traded up $0.54 during midday trading on Friday, reaching $41.79. 20,006,979 shares of the stock were exchanged, compared to its average volume of 18,351,631. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The firm has a market cap of $175.90 billion, a PE ratio of 15.59, a PEG ratio of 3.72 and a beta of 0.41. The company’s fifty day moving average is $40.83 and its 200-day moving average is $40.47.
Verizon Communications Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.37%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. Scotiabank upped their price objective 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. Tigress Financial raised their target price on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.78.
Read Our Latest Research Report on Verizon Communications
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).
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