Verizon Communications Inc. (VZ) Stake Lifted by Bridgewater Wealth & Financial Management LLC
Bridgewater Wealth & Financial Management LLC lifted its position in Verizon Communications Inc. (NYSE:VZ) by 36.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,198 shares of the cell phone carrier’s stock after purchasing an additional 3,007 shares during the period. Bridgewater Wealth & Financial Management LLC’s holdings in Verizon Communications were worth $500,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Whitnell & Co. lifted its stake in Verizon Communications by 1.2% in the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after acquiring an additional 125 shares during the period. Allegis Investment Advisors LLC lifted its stake in Verizon Communications by 9.0% in the first quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock worth $2,880,000 after acquiring an additional 4,898 shares during the period. Segantii Capital Management Ltd purchased a new stake in Verizon Communications in the first quarter worth $6,094,000. Cascade Investment Advisors Inc. lifted its stake in Verizon Communications by 0.4% in the first quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock worth $1,655,000 after acquiring an additional 125 shares during the period. Finally, Carret Asset Management LLC lifted its stake in Verizon Communications by 1.5% in the first quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock worth $8,637,000 after acquiring an additional 2,606 shares during the period. Hedge funds and other institutional investors own 62.09% of the company’s stock.
Several brokerages have commented on VZ. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Cowen and Company reissued a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Friday, July 28th. Robert W. Baird reissued a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $52.75.
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Verizon Communications Inc. (VZ) opened at $44.11 on Thursday. The firm has a market capitalization of $179,940.00, a P/E ratio of 11.93, a PEG ratio of 4.21 and a beta of 0.55. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. analysts forecast that Verizon Communications Inc. will post 3.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 5.35%. The ex-dividend date was Friday, October 6th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the transaction, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,830 shares of company stock worth $89,365 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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