IFG Advisory LLC Increases Holdings in Verizon Communications Inc. $VZ

IFG Advisory LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,288 shares of the cell phone carrier’s stock after purchasing an additional 4,191 shares during the period. IFG Advisory LLC’s holdings in Verizon Communications were worth $5,118,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sargent Investment Group LLC increased its holdings in Verizon Communications by 3.3% during 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 increased its holdings in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after purchasing an additional 240 shares during the period. Wright Investors Service Inc. increased its holdings in Verizon Communications by 1.2% during the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after purchasing an additional 243 shares during the period. Platform Technology Partners increased its holdings in Verizon Communications by 0.8% during the 1st quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock valued at $1,429,000 after purchasing an additional 246 shares during the period. Finally, Monetary Management Group Inc. increased its holdings in Verizon Communications by 0.8% during the 1st quarter. Monetary Management Group Inc. now owns 30,150 shares of the cell phone carrier’s stock valued at $1,368,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ opened at $38.96 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average price is $42.40 and its 200-day moving average price is $42.87. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The stock has a market cap of $164.27 billion, a P/E ratio of 8.32, a P/E/G ratio of 3.03 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm had revenue of $33.80 billion for the quarter, compared to analysts’ expectations of $34.19 billion. During the same period in the previous year, the firm posted $1.19 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is presently 58.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VZ. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price objective on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Morgan Stanley lifted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Hold” 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).