Verizon Communications Inc. (NYSE:VZ) Stock Holdings Boosted by Equitable Trust Co.

Equitable Trust Co. grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 43,328 shares of the cell phone carrier’s stock after purchasing an additional 2,104 shares during the quarter. Equitable Trust Co.’s holdings in Verizon Communications were worth $1,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications during the first quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications during the 3rd quarter valued at $31,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Verizon Communications during the 2nd quarter worth $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 2nd quarter worth $33,000. Finally, Accordant Advisory Group Inc raised its position 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 worth $35,000 after purchasing an additional 450 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on VZ. Tigress Financial raised their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group lifted their price objective on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, TD Cowen increased their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Stock Down 0.2 %

Shares of VZ stock opened at $40.48 on Friday. The stock has a 50 day moving average of $43.11 and a 200-day moving average of $41.38. The firm has a market cap of $170.41 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43. 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 Inc. has a 12 month low of $35.40 and a 12 month high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.678 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is presently 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).