Winslow Asset Management Inc. Purchases Shares of 5,927 Verizon Communications Inc. (NYSE:VZ)

Winslow Asset Management Inc. purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,927 shares of the cell phone carrier’s stock, valued at approximately $223,000.

Several other large investors have also added to or reduced their stakes in VZ. Catalyst Capital Advisors LLC lifted its holdings in shares of Verizon Communications by 122.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,561 shares of the cell phone carrier’s stock worth $148,000 after buying an additional 2,511 shares in the last quarter. Truepoint Inc. purchased a new position in shares of Verizon Communications in the third quarter worth $481,000. Loomis Sayles & Co. L P lifted its holdings in shares of Verizon Communications by 27.9% in the third quarter. Loomis Sayles & Co. L P now owns 7,268 shares of the cell phone carrier’s stock worth $236,000 after buying an additional 1,586 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Verizon Communications by 3.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,875,605 shares of the cell phone carrier’s stock worth $94,041,000 after buying an additional 101,002 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in Verizon Communications by 3.3% in the third quarter. Johnson Investment Counsel Inc. now owns 96,911 shares of the cell phone carrier’s stock worth $3,141,000 after purchasing an additional 3,141 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VZ shares. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Tigress Financial boosted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Wells Fargo & Company cut their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada boosted their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 2nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.77.

Check Out Our Latest Research Report on Verizon Communications

Verizon Communications Stock Performance

NYSE:VZ traded down $0.16 during midday trading on Friday, hitting $39.62. The company’s stock had a trading volume of 4,985,219 shares, compared to its average volume of 18,719,479. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The firm’s 50 day moving average is $40.08 and its 200-day moving average is $39.84. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market cap of $166.77 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.89 and a beta of 0.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. Verizon Communications’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.71%. Verizon Communications’s payout ratio is 99.25%.

Verizon Communications Profile

(Free Report)

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).

See Also

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

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