Twin City Private Wealth LLC Increases Holdings in Verizon Communications Inc. $VZ

Twin City Private Wealth LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,652 shares of the cell phone carrier’s stock after purchasing an additional 830 shares during the period. Twin City Private Wealth LLC’s holdings in Verizon Communications were worth $1,110,000 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 boosted its position 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 acquiring an additional 240 shares in the last quarter. Wright Investors Service Inc. boosted its position 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 acquiring an additional 243 shares in the last quarter. Platform Technology Partners boosted its position 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 acquiring an additional 246 shares in the last quarter. Finally, Monetary Management Group Inc. boosted its position 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 acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VZ shares. Wells Fargo & Company lifted their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. TD Cowen cut their price objective on Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday. BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a research report on Tuesday, October 21st. Royal Bank Of Canada cut their price objective on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.41.

Verizon Communications Stock Performance

Verizon Communications stock opened at $39.77 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 company has a market capitalization of $167.67 billion, a P/E ratio of 8.50, a PEG ratio of 3.03 and a beta of 0.37. The stock’s 50 day moving average is $42.31 and its 200 day moving average is $42.84. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. The company had revenue of $33.80 billion for the quarter, compared to the consensus estimate of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 EPS. On average, equities research analysts predict 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. Investors of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is currently 58.97%.

Verizon Communications 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).