Ranch Capital Advisors Inc. Acquires 4,367 Shares of Verizon Communications Inc. $VZ

Ranch Capital Advisors Inc. grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,242 shares of the cell phone carrier’s stock after acquiring an additional 4,367 shares during the period. Verizon Communications accounts for 1.3% of Ranch Capital Advisors Inc.’s portfolio, making the stock its 22nd largest holding. Ranch Capital Advisors Inc.’s holdings in Verizon Communications were worth $2,953,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sargent Investment Group LLC lifted its stake in shares of Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock valued at $323,000 after purchasing an additional 230 shares during the period. Providence Capital Advisors LLC raised its position in Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after acquiring an additional 240 shares during the period. Wright Investors Service Inc. raised its position in Verizon Communications by 1.2% during the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after acquiring an additional 243 shares during the period. Platform Technology Partners raised its position in Verizon Communications by 0.8% during the first quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock worth $1,429,000 after acquiring an additional 246 shares during the period. Finally, Monetary Management Group Inc. raised its position in Verizon Communications by 0.8% during the first quarter. Monetary Management Group Inc. now owns 30,150 shares of the cell phone carrier’s stock worth $1,368,000 after acquiring an additional 250 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 1.1%

Shares of VZ opened at $38.83 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a 50-day moving average price of $42.84 and a 200 day moving average price of $42.96. The firm has a market capitalization of $163.70 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.89 and a beta of 0.37.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is currently 64.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VZ shares. Weiss Ratings cut shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company upped their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. BNP Paribas Exane lowered shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

Verizon Communications Company Profile

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).