Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 415,200 shares of the cell phone carrier’s stock, valued at approximately $20,889,000. Verizon Communications comprises about 1.1% of Dalton Greiner Hartman Maher & Co.’s holdings, making the stock its 29th largest holding.

Several other large investors have also made changes to their positions in the stock. Ledyard National Bank grew its position in shares of Verizon Communications by 4.0% during the 2nd quarter. Ledyard National Bank now owns 35,511 shares of the cell phone carrier’s stock valued at $1,787,000 after buying an additional 1,378 shares during the last quarter. Trust Co. of Vermont grew its position in shares of Verizon Communications by 2.2% during the 2nd quarter. Trust Co. of Vermont now owns 202,154 shares of the cell phone carrier’s stock valued at $10,170,000 after buying an additional 4,313 shares during the last quarter. Denali Advisors LLC grew its position in shares of Verizon Communications by 10.6% during the 2nd quarter. Denali Advisors LLC now owns 403,400 shares of the cell phone carrier’s stock valued at $20,295,000 after buying an additional 38,700 shares during the last quarter. Trust Co grew its position in shares of Verizon Communications by 6.5% during the 1st quarter. Trust Co now owns 100,146 shares of the cell phone carrier’s stock valued at $4,789,000 after buying an additional 6,126 shares during the last quarter. Finally, First PREMIER Bank grew its position in shares of Verizon Communications by 7.7% during the 2nd quarter. First PREMIER Bank now owns 24,453 shares of the cell phone carrier’s stock valued at $1,231,000 after buying an additional 1,749 shares during the last quarter. 64.21% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on VZ. Credit Suisse Group began coverage on shares of Verizon Communications in a research note on Tuesday, July 10th. They set an “outperform” rating and a $58.00 target price for the company. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Jefferies Financial Group began coverage on shares of Verizon Communications in a research note on Thursday, June 7th. They set a “hold” rating and a $52.00 target price for the company. Robert W. Baird boosted their target price on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Finally, JPMorgan Chase & Co. raised shares of Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Friday, May 11th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Verizon Communications presently has an average rating of “Buy” and a consensus target price of $55.42.

Shares of NYSE:VZ opened at $54.65 on Wednesday. The company has a market capitalization of $226.13 billion, a PE ratio of 14.61, a P/E/G ratio of 1.99 and a beta of 0.70. Verizon Communications Inc. has a twelve month low of $43.97 and a twelve month high of $55.21. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 2.04.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $32.20 billion during the quarter, compared to analyst estimates of $31.78 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. equities analysts forecast that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, July 9th. Verizon Communications’s dividend payout ratio is currently 63.10%.

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

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