Waters Parkerson & CO. LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,175 shares of the cell phone carrier’s stock after purchasing an additional 5,681 shares during the period. Verizon Communications accounts for about 1.6% of Waters Parkerson & CO. LLC’s holdings, making the stock its 27th biggest position. Waters Parkerson & CO. LLC’s holdings in Verizon Communications were worth $18,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Hill Associates LLC lifted its holdings in Verizon Communications by 7.7% in the second quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after acquiring an additional 968 shares during the period. Bailard Inc. raised its stake in shares of Verizon Communications by 1.0% during the 2nd quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock worth $4,999,000 after buying an additional 977 shares during the last quarter. Live Your Vision LLC raised its stake in shares of Verizon Communications by 24.0% during the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock worth $265,000 after buying an additional 1,000 shares during the last quarter. Vantage Financial Partners Ltd. Inc. raised its stake in shares of Verizon Communications by 6.7% during the 2nd quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock worth $799,000 after buying an additional 1,000 shares during the last quarter. Finally, Canal Capital Management LLC raised its stake in shares of Verizon Communications by 2.5% during the 2nd quarter. Canal Capital Management LLC now owns 41,657 shares of the cell phone carrier’s stock worth $2,096,000 after buying an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 64.17% of the company’s stock.

Several research firms have recently issued reports on VZ. Moffett Nathanson reaffirmed a “neutral” rating and set a $56.00 price target on shares of Verizon Communications in a research note on Tuesday, September 4th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Bank of America reaffirmed a “buy” rating and set a $58.00 price target on shares of Verizon Communications in a research note on Monday, October 22nd. Finally, Robert W. Baird lifted their price target on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Verizon Communications has an average rating of “Buy” and an average price target of $55.93.

Verizon Communications stock opened at $60.62 on Tuesday. The stock has a market cap of $248.54 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.62 and a beta of 0.46. Verizon Communications Inc. has a 52 week low of $45.50 and a 52 week high of $61.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $32.61 billion during the quarter, compared to analysts’ expectations of $32.45 billion. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Tuesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is currently 64.44%.

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Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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