American Investment Services Inc. Lowers Position in Verizon Communications Inc. (NYSE:VZ)

American Investment Services Inc. decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 248,373 shares of the cell phone carrier’s stock after selling 830 shares during the period. Verizon Communications accounts for 1.8% of American Investment Services Inc.’s portfolio, making the stock its 15th largest position. American Investment Services Inc.’s holdings in Verizon Communications were worth $10,243,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications during the 1st quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications in the fourth quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Verizon Communications in the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the 2nd quarter valued at $33,000. Finally, Vima LLC purchased a new stake in Verizon Communications during the 4th quarter worth $36,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on VZ shares. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. KeyCorp reduced their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, September 6th. Finally, Scotiabank raised their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.66.

Verizon Communications Price Performance

Shares of VZ opened at $44.33 on Monday. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $45.05. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The firm has a market cap of $186.60 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.99 and a beta of 0.42. The stock has a 50 day moving average of $41.46 and a 200-day moving average of $40.79.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. Verizon Communications’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, analysts forecast 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 given a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.12%. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

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).