Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Equitable Trust Co.

Equitable Trust Co. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 5.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 43,328 shares of the cell phone carrier’s stock after acquiring an additional 2,104 shares during the period. Equitable Trust Co.’s holdings in Verizon Communications were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VZ. Leavell Investment Management Inc. increased its position in shares of Verizon Communications by 31.0% during the third quarter. Leavell Investment Management Inc. now owns 50,231 shares of the cell phone carrier’s stock worth $2,256,000 after acquiring an additional 11,896 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its holdings in Verizon Communications by 14.5% during the 3rd quarter. Strategic Family Wealth Counselors L.L.C. now owns 12,391 shares of the cell phone carrier’s stock worth $556,000 after purchasing an additional 1,569 shares during the last quarter. SFG Wealth Management LLC. raised its position in shares of Verizon Communications by 3.6% in the 3rd quarter. SFG Wealth Management LLC. now owns 10,170 shares of the cell phone carrier’s stock valued at $457,000 after purchasing an additional 352 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the 3rd quarter valued at approximately $31,000. Finally, Philip James Wealth Mangement LLC purchased a new position in shares of Verizon Communications during the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VZ shares. Bank of America upped their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen increased their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank boosted their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a report on Friday, October 18th. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. 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 research report on Monday, September 23rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $40.48 on Friday. The firm’s 50 day moving average is $43.11 and its two-hundred day moving average is $41.38. The firm has a market capitalization of $170.41 billion, a P/E ratio of 17.45, a PEG ratio of 2.99 and a beta of 0.43. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52 week low of $35.40 and a 52 week high of $45.36.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. The firm had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.678 per share. This is a boost 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 6.70%. The ex-dividend date was Thursday, October 10th. Verizon Communications’s payout ratio is currently 116.81%.

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).