Act Two Investors LLC Has $9.39 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Act Two Investors LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2,815.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,042 shares of the cell phone carrier’s stock after purchasing an additional 240,499 shares during the quarter. Verizon Communications accounts for 2.0% of Act Two Investors LLC’s investment portfolio, making the stock its 15th largest holding. Act Two Investors LLC’s holdings in Verizon Communications were worth $9,389,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Taylor Hoffman Wealth Management raised its position in Verizon Communications by 32.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock valued at $353,000 after buying an additional 2,314 shares during the last quarter. WealthTrust Axiom LLC raised its position in Verizon Communications by 2.1% in the 4th quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after buying an additional 2,422 shares during the last quarter. Portland Investment Counsel Inc. raised its position in Verizon Communications by 173.7% in the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after buying an additional 413,869 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after buying an additional 1,616 shares during the last quarter. Finally, GFS Advisors LLC purchased a new stake in Verizon Communications in the 4th quarter valued at $212,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ stock traded up $0.31 on Friday, hitting $39.74. 10,419,992 shares of the stock were exchanged, compared to its average volume of 15,358,114. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $167.28 billion, a PE ratio of 14.83, a P/E/G ratio of 2.88 and a beta of 0.42. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42. The firm’s 50 day moving average is $40.31 and its two-hundred day moving average is $39.47.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.20 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.665 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $2.66 annualized dividend and a yield of 6.69%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

VZ has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Royal Bank of Canada raised their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Citigroup raised their target price on Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $44.36.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).