Diversified Trust Co boosted its position in Verizon Communications Inc. (NYSE:VZ) by 46.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,538 shares of the cell phone carrier’s stock after buying an additional 34,331 shares during the quarter. Diversified Trust Co’s holdings in Verizon Communications were worth $6,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Cambridge Advisors Inc. increased its position in Verizon Communications by 2.2% in the third quarter. Cambridge Advisors Inc. now owns 8,546 shares of the cell phone carrier’s stock worth $508,000 after buying an additional 183 shares during the last quarter. Somerset Trust Co increased its position in Verizon Communications by 2.6% in the third quarter. Somerset Trust Co now owns 11,371 shares of the cell phone carrier’s stock worth $676,000 after buying an additional 293 shares during the last quarter. FormulaFolio Investments LLC increased its position in Verizon Communications by 2.2% in the third quarter. FormulaFolio Investments LLC now owns 47,289 shares of the cell phone carrier’s stock worth $2,813,000 after buying an additional 1,029 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV grew its position in shares of Verizon Communications by 1.2% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 18,582 shares of the cell phone carrier’s stock valued at $1,105,000 after purchasing an additional 223 shares in the last quarter. Finally, Fortem Financial Group LLC grew its position in shares of Verizon Communications by 38.6% in the third quarter. Fortem Financial Group LLC now owns 53,634 shares of the cell phone carrier’s stock valued at $3,191,000 after purchasing an additional 14,936 shares in the last quarter. 64.85% of the stock is owned by institutional investors and hedge funds.

Shares of VZ stock opened at $58.05 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The business has a 50-day moving average price of $59.66 and a two-hundred day moving average price of $57.28. Verizon Communications Inc. has a 12-month low of $48.84 and a 12-month high of $62.22. The firm has a market cap of $240.21 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The firm had revenue of $30.40 billion during the quarter, compared to analyst estimates of $29.98 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts expect that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a $0.6275 dividend. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Thursday, October 8th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s payout ratio is 52.18%.

Several equities analysts have recently weighed in on VZ shares. Moffett Nathanson reiterated a “hold” rating and issued a $62.00 price target on shares of Verizon Communications in a research report on Friday, July 24th. UBS Group lifted their price target on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Argus upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, September 8th. Oppenheimer began coverage on Verizon Communications in a research report on Tuesday, September 15th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Tigress Financial reissued a “hold” rating on shares of Verizon Communications in a research note on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $62.24.

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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