Legacy Capital Group California Inc. cut its position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,656 shares of the cell phone carrier’s stock after selling 259 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Verizon Communications were worth $728,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Criterion Capital Advisors LLC bought a new position in Verizon Communications during the fourth quarter worth $25,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications during the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $29,000. Vima LLC bought a new position in Verizon Communications in the fourth quarter valued at approximately $36,000. Finally, Cetera Trust Company N.A bought a new position in shares of Verizon Communications in the 4th quarter worth $37,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
Verizon Communications Stock Performance
Shares of NYSE VZ traded up $0.10 during midday trading on Tuesday, reaching $40.84. The company had a trading volume of 8,781,124 shares, compared to its average volume of 18,587,100. The business’s 50-day simple moving average is $40.64 and its 200 day simple moving average is $40.43. The stock has a market cap of $171.91 billion, a P/E ratio of 15.24, a P/E/G ratio of 3.72 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $43.42.
Verizon Communications Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.665 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.51%. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.
Analyst Ratings Changes
A number of analysts have recently issued reports on VZ shares. JPMorgan Chase & Co. lowered their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company decreased their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $45.78.
Get Our Latest Research Report on VZ
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).
Read More
- Five stocks we like better than Verizon Communications
- What is the Euro STOXX 50 Index?
- Columbia Sportswear: A Turnaround Story That’s Gaining Ground
- Want to Profit on the Downtrend? Downtrends, Explained.
- Lowe’s Stock: Hold Now, Buy it When it Dips
- Are Penny Stocks a Good Fit for Your Portfolio?
- ZIM Shipping Stock Soars as the Industry Shows a Bottoming Trend
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.