Oregon Public Employees Retirement Fund raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 446,478 shares of the cell phone carrier’s stock after buying an additional 7,000 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Verizon Communications were worth $23,837,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Graybill Bartz & Assoc Ltd. boosted its stake in Verizon Communications by 3.0% during the second quarter. Graybill Bartz & Assoc Ltd. now owns 78,707 shares of the cell phone carrier’s stock worth $3,960,000 after buying an additional 2,276 shares during the period. Reinhart Partners Inc. purchased a new position in shares of Verizon Communications during the 2nd quarter worth $444,000. Perpetual Ltd boosted its stake in shares of Verizon Communications by 17.2% in the 2nd quarter. Perpetual Ltd now owns 530,711 shares of the cell phone carrier’s stock valued at $26,747,000 after buying an additional 77,876 shares during the period. Greystone Managed Investments Inc. increased its position in Verizon Communications by 14.9% during the second quarter. Greystone Managed Investments Inc. now owns 267,175 shares of the cell phone carrier’s stock worth $13,442,000 after buying an additional 34,660 shares during the period. Finally, NewSquare Capital LLC boosted its stake in shares of Verizon Communications by 17.4% in the second quarter. NewSquare Capital LLC now owns 38,279 shares of the cell phone carrier’s stock valued at $1,938,000 after buying an additional 5,664 shares in the last quarter. 64.84% of the stock is owned by institutional investors.
VZ has been the topic of several analyst reports. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. cut shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Monday, December 3rd. Bank of America reaffirmed a “buy” rating and set a $58.00 price target on shares of Verizon Communications in a research note on Monday, October 22nd. Scotiabank set a $62.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Friday, December 28th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Verizon Communications presently has an average rating of “Buy” and a consensus target price of $56.02.
Shares of NYSE VZ opened at $58.02 on Monday. The stock has a market cap of $235.50 billion, a PE ratio of 15.51, a P/E/G ratio of 2.98 and a beta of 0.54. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. Verizon Communications Inc. has a 52-week low of $46.08 and a 52-week high of $61.58.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $32.61 billion for the quarter, compared to analyst estimates of $32.45 billion. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 64.44%.
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Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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