Verizon Communications Inc. (NYSE:VZ) Stake Raised by Aviso Wealth Management

Aviso Wealth Management increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,329 shares of the cell phone carrier’s stock after acquiring an additional 593 shares during the period. Aviso Wealth Management’s holdings in Verizon Communications were worth $632,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications in the 1st quarter worth about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in Verizon Communications in the 4th quarter worth about $29,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new position in Verizon Communications in the 2nd quarter worth about $33,000. Finally, Vima LLC acquired a new position in Verizon Communications in the 4th quarter worth about $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ opened at $44.89 on Friday. The firm has a market capitalization of $188.95 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. The stock’s 50 day moving average price is $41.76 and its two-hundred day moving average price is $40.95. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $45.05.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 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 company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter last year, the company earned $1.21 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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 represents a $2.71 dividend on an annualized basis and a dividend yield of 6.04%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. Bank of America upped their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. Scotiabank upped their target price on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Raymond James upped their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. TD Cowen upped their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price 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).