Pathway Financial Advisers LLC Buys 1,736 Shares of Verizon Communications Inc. (NYSE:VZ)

Pathway Financial Advisers LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,508 shares of the cell phone carrier’s stock after acquiring an additional 1,736 shares during the period. Verizon Communications makes up approximately 1.5% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 17th largest position. Pathway Financial Advisers LLC’s holdings in Verizon Communications were worth $4,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the first quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the second quarter worth approximately $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications during the second quarter worth approximately $33,000. Finally, Vima LLC bought a new position 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 Analysts Forecast Growth

Several analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. Bank of America boosted their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. TD Cowen raised their target price on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, KeyCorp decreased their price target on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.

Verizon Communications Stock Up 0.0 %

Shares of NYSE:VZ opened at $44.91 on Tuesday. The business’s 50-day moving average is $41.88 and its 200-day moving average is $40.99. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $45.36. The company has a market capitalization of $189.04 billion, a price-to-earnings ratio of 16.76, a P/E/G ratio of 4.03 and a beta of 0.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The firm had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business’s 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. Equities research analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.678 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Verizon Communications 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).