Profund Advisors LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,596 shares of the cell phone carrier’s stock after buying an additional 1,986 shares during the period. Profund Advisors LLC’s holdings in Verizon Communications were worth $3,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Klaas Financial Asset Advisors LLC bought a new position in shares of Verizon Communications in the 4th quarter worth about $26,000. Asset Management Corp IL ADV grew its holdings in shares of Verizon Communications by 355.1% during the fourth quarter. Asset Management Corp IL ADV now owns 47,612 shares of the cell phone carrier’s stock valued at $2,732,000 after purchasing an additional 37,149 shares during the last quarter. ProVise Management Group LLC raised its position in shares of Verizon Communications by 3.5% during the 4th quarter. ProVise Management Group LLC now owns 69,631 shares of the cell phone carrier’s stock worth $4,091,000 after purchasing an additional 2,341 shares during the period. Doyle Wealth Management lifted its holdings in shares of Verizon Communications by 3.9% in the 4th quarter. Doyle Wealth Management now owns 321,841 shares of the cell phone carrier’s stock worth $18,908,000 after purchasing an additional 12,138 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Verizon Communications by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,090,050 shares of the cell phone carrier’s stock valued at $64,847,000 after purchasing an additional 23,054 shares during the period. 64.85% of the stock is currently owned by hedge funds and other institutional investors.

NYSE VZ opened at $56.45 on Tuesday. The stock’s 50 day simple moving average is $56.33 and its 200 day simple moving average is $58.66. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $61.95. The firm has a market cap of $233.60 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, January 25th. The cell phone carrier reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.04. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company had revenue of $34.70 billion during the quarter, compared to analyst estimates of $34.47 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities analysts expect that Verizon Communications Inc. will post 4.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 1st. Investors of record on Friday, January 8th were given a $0.6275 dividend. This represents a $2.51 annualized dividend and a yield of 4.45%. The ex-dividend date was Thursday, January 7th. Verizon Communications’s dividend payout ratio (DPR) is presently 52.18%.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Verizon Communications from a “neutral” rating to an “overweight” rating and raised their target price for the company from $61.00 to $65.00 in a research note on Thursday, November 5th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Sunday, November 1st. Moffett Nathanson upgraded Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $66.00 in a research report on Wednesday, December 2nd. Wells Fargo & Company began coverage on shares of Verizon Communications in a research note on Monday, November 16th. They set an “equal weight” rating and a $60.00 target price on the stock. Finally, Credit Suisse Group reduced their price target on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, January 19th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Verizon Communications has an average rating of “Buy” and a consensus target price of $61.84.

Verizon Communications Profile

Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

See Also: Is a Roth IRA right for you?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ).

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

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.