XTX Topco Ltd Invests $3.63 Million in Verizon Communications Inc. (NYSE:VZ)

XTX Topco Ltd bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 87,975 shares of the cell phone carrier’s stock, valued at approximately $3,628,000. Verizon Communications comprises approximately 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 27th biggest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications during the first quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications in the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the second quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $33,000. Finally, Vima LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at $36,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $43.89 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The firm has a market cap of $184.74 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.99 and a beta of 0.42. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $45.05. The company’s fifty day simple moving average is $41.35 and its two-hundred day simple moving average is $40.73.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a yield of 6.18%. Verizon Communications’s payout ratio is currently 101.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price objective on shares of Verizon Communications in a report on Monday, September 9th. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. KeyCorp reduced their target price on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. TD Cowen upped their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.

About Verizon Communications

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).