Bontempo Ohly Capital Mgmt LLC Acquires 1,652 Shares of Verizon Communications Inc. (NYSE:VZ)

Bontempo Ohly Capital Mgmt LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,116 shares of the cell phone carrier’s stock after purchasing an additional 1,652 shares during the period. Verizon Communications makes up about 2.1% of Bontempo Ohly Capital Mgmt LLC’s holdings, making the stock its 10th biggest position. Bontempo Ohly Capital Mgmt LLC’s holdings in Verizon Communications were worth $4,129,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications in the 4th quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Verizon Communications in the 2nd quarter worth $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter valued at $33,000. Finally, Pittenger & Anderson Inc. raised its holdings in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after buying an additional 296 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 0.6 %

Shares of VZ stock opened at $44.89 on Friday. 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 $188.95 billion, a P/E ratio of 16.75, a PEG ratio of 4.03 and a beta of 0.42. The company has a 50 day moving average of $41.76 and a 200-day moving average of $40.95. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $45.05.

Verizon Communications (NYSE:VZ) last issued its quarterly 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 firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm 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 dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.04%. 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. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. Raymond James raised their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Royal Bank of Canada upped their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Finally, Bank of America raised their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.

Verizon Communications Company Profile

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).