Banque Cantonale Vaudoise Acquires 87,014 Shares of Verizon Communications Inc. (NYSE:VZ)

Banque Cantonale Vaudoise grew its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 31.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,852 shares of the cell phone carrier’s stock after buying an additional 87,014 shares during the period. Verizon Communications accounts for approximately 0.6% of Banque Cantonale Vaudoise’s holdings, making the stock its 22nd biggest position. Banque Cantonale Vaudoise’s holdings in Verizon Communications were worth $15,349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Taylor Hoffman Wealth Management raised its position in Verizon Communications by 32.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock worth $353,000 after buying an additional 2,314 shares during the last quarter. Leo Wealth LLC bought a new stake in shares of Verizon Communications during the 4th quarter valued at about $3,346,000. WealthTrust Axiom LLC grew its stake in shares of Verizon Communications by 2.1% during the 4th quarter. WealthTrust Axiom LLC now owns 118,806 shares of the cell phone carrier’s stock valued at $4,479,000 after purchasing an additional 2,422 shares during the period. Portland Investment Counsel Inc. grew its stake in shares of Verizon Communications by 173.7% during the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after purchasing an additional 413,869 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Verizon Communications by 1.3% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after purchasing an additional 1,616 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VZ. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $39.00 in a research note on Friday, March 22nd. Wells Fargo & Company cut their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, Tigress Financial upped their price target on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $44.77.

View Our Latest Stock Report on Verizon Communications

Verizon Communications Stock Down 0.3 %

VZ stock traded down $0.11 during trading on Friday, reaching $40.13. 5,375,127 shares of the company traded hands, compared to its average volume of 18,661,574. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The business has a 50 day simple moving average of $39.96 and a 200 day simple moving average of $39.91. The company has a market capitalization of $168.92 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71.

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

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s payout ratio is currently 99.25%.

About Verizon Communications

(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).

Read More

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.