Webster Bank N. A. raised its position in Verizon Communications Inc. (NYSE:VZ) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,977 shares of the cell phone carrier’s stock after acquiring an additional 4,933 shares during the period. Webster Bank N. A.’s holdings in Verizon Communications were worth $3,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VZ. Earnest Partners LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $103,000. Stelac Advisory Services LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $111,000. Wagner Wealth Management LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $129,000. Avestar Capital LLC purchased a new position in shares of Verizon Communications during the fourth quarter worth $131,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Verizon Communications during the fourth quarter worth $136,000. Institutional investors own 64.21% of the company’s stock.

VZ opened at $54.75 on Friday. Verizon Communications Inc. has a fifty-two week low of $43.97 and a fifty-two week high of $55.21. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a market capitalization of $226.42 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.99 and a beta of 0.70.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The company had revenue of $32.20 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. equities analysts anticipate that Verizon Communications Inc. will post 4.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th were issued a $0.59 dividend. The ex-dividend date was Monday, July 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.31%. Verizon Communications’s payout ratio is 63.10%.

Several brokerages recently issued reports on VZ. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Wednesday, August 8th. Scotiabank set a $61.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, July 25th. Robert W. Baird raised their target price on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Credit Suisse Group began coverage on shares of Verizon Communications in a report on Tuesday, July 10th. They set an “outperform” rating and a $58.00 target price for the company. Finally, Goldman Sachs Group raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $56.00 in a report on Thursday, June 21st. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Verizon Communications presently has a consensus rating of “Buy” and an average target price of $55.42.

Verizon Communications 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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