Vident Investment Advisory LLC Grows Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Vident Investment Advisory LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 9.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 169,291 shares of the cell phone carrier’s stock after purchasing an additional 14,519 shares during the period. Vident Investment Advisory LLC’s holdings in Verizon Communications were worth $8,622,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VZ. Rinkey Investments purchased a new position in shares of Verizon Communications during the fourth quarter valued at approximately $27,000. Cordant Inc. purchased a new position in Verizon Communications in the 1st quarter worth approximately $30,000. Lansing Street Advisors purchased a new position in Verizon Communications in the 1st quarter worth approximately $35,000. Conrad Siegel Investment Advisors Inc. purchased a new position in Verizon Communications in the 1st quarter worth approximately $36,000. Finally, Gibson Wealth Advisors LLC purchased a new position in Verizon Communications in the 4th quarter worth approximately $37,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VZ shares. Moffett Nathanson lowered shares of Verizon Communications from a “market perform” rating to an “underperform” rating and set a $41.00 price objective for the company. in a report on Thursday, August 18th. UBS Group decreased their price objective on shares of Verizon Communications from $57.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Cowen decreased their price objective on shares of Verizon Communications from $71.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, July 25th. StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.68.

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Verizon Communications Trading Up 2.2 %

Shares of VZ stock opened at $42.24 on Friday. Verizon Communications Inc. has a 1 year low of $40.71 and a 1 year high of $55.51. The firm has a fifty day moving average price of $45.78 and a 200-day moving average price of $49.29. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.76 and a quick ratio of 0.69. The company has a market cap of $177.40 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.97 and a beta of 0.36.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The business had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. During the same period in the previous year, the firm earned $1.37 EPS. The company’s revenue was up .1% on a year-over-year basis. As a group, equities analysts predict that Verizon Communications Inc. will post 5.2 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a dividend of $0.6525 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, October 6th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 6.18%. Verizon Communications’s payout ratio is 51.30%.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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

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