Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,726 shares of the cell phone carrier’s stock after buying an additional 753 shares during the period. Osborne Partners Capital Management LLC’s holdings in Verizon Communications were worth $572,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications during the 1st quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the second quarter worth about $32,000. MFA Wealth Advisors LLC bought a new position in Verizon Communications in the second quarter worth about $33,000. Accordant Advisory Group Inc boosted 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 acquiring an additional 450 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in shares of Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 296 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VZ has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. Bank of America lifted their target price on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Citigroup increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Trading Down 1.1 %

NYSE:VZ opened at $41.38 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $43.11 and its 200-day moving average is $41.29. The firm has a market cap of $174.18 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 12 month low of $33.34 and a 12 month high of $45.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.55%. Verizon Communications’s payout ratio is currently 101.12%.

Verizon Communications Company 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).