American Financial Group Inc. continued to hold its stake in Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,994 shares of the cell phone carrier’s stock at the close of the second quarter. American Financial Group Inc.’s holdings in Verizon Communications were worth $2,367,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Halbert Hargrove Russell LLC grew its holdings in Verizon Communications by 4.4% during the second quarter. Halbert Hargrove Russell LLC now owns 5,331 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 226 shares during the period. Northeast Investment Management grew its holdings in Verizon Communications by 1.1% during the second quarter. Northeast Investment Management now owns 40,035 shares of the cell phone carrier’s stock worth $1,788,000 after acquiring an additional 429 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in Verizon Communications by 0.5% during the second quarter. ZWJ Investment Counsel Inc. now owns 494,571 shares of the cell phone carrier’s stock worth $22,088,000 after acquiring an additional 2,217 shares during the period. Capital Investment Counsel Inc grew its holdings in Verizon Communications by 9.8% during the second quarter. Capital Investment Counsel Inc now owns 39,704 shares of the cell phone carrier’s stock worth $1,773,000 after acquiring an additional 3,544 shares during the period. Finally, Loudon Investment Management LLC grew its holdings in Verizon Communications by 5.4% during the second quarter. Loudon Investment Management LLC now owns 8,211 shares of the cell phone carrier’s stock worth $367,000 after acquiring an additional 424 shares during the period. 62.09% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Inc. (NYSE VZ) opened at $45.42 on Friday. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $54.83. The company has a market capitalization of $182,640.00, a P/E ratio of 11.79, a P/E/G ratio of 4.16 and a beta of 0.55. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.59 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 5.20%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total transaction of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares in the company, valued at $324,868.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have sold 1,830 shares of company stock worth $89,365. 0.13% of the stock is currently owned by company insiders.

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VZ has been the topic of several analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Tuesday, September 19th. Macquarie reaffirmed a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. Finally, Royal Bank Of Canada raised their target price on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $52.75.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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