Verizon Communications Inc. (VZ) Shares Bought by Aviance Capital Management LLC
Aviance Capital Management LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 13.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,465 shares of the cell phone carrier’s stock after purchasing an additional 70,866 shares during the period. Verizon Communications comprises about 2.5% of Aviance Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Aviance Capital Management LLC’s holdings in Verizon Communications were worth $30,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in Verizon Communications in the 2nd quarter worth $103,000. Financial Gravity Wealth Inc. acquired a new stake in Verizon Communications in the 1st quarter worth $128,000. Rainier Group Investment Advisory LLC acquired a new stake in Verizon Communications in the 1st quarter worth $134,000. Elmwood Wealth Management Inc. acquired a new stake in Verizon Communications in the 1st quarter worth $146,000. Finally, Emerald Investment Partners LLC acquired a new stake in Verizon Communications in the 2nd quarter worth $174,000. Institutional investors own 64.53% of the company’s stock.
Shares of Verizon Communications stock opened at $59.08 on Friday. 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 twelve month low of $44.11 and a twelve month high of $59.40. The stock has a market cap of $242.39 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 2.55 and a beta of 0.46.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were given a dividend of $0.6025 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend was Tuesday, October 9th. Verizon Communications’s payout ratio is 64.44%.
Several research firms have issued reports on VZ. Moffett Nathanson restated a “neutral” rating and issued a $56.00 price target on shares of Verizon Communications in a research report on Tuesday, September 4th. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Bank of America restated a “buy” rating and issued a $58.00 price target on shares of Verizon Communications in a research report on Monday, October 22nd. Finally, Robert W. Baird raised their price target on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $55.93.
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.
Featured Story: How to Profit and Limit Losses With Stop Orders
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.