Diversified Trust Co Grows Holdings in Verizon Communications Inc. (NYSE:VZ)

Diversified Trust Co grew its stake in Verizon Communications Inc. (NYSE:VZ) by 42.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,403 shares of the cell phone carrier’s stock after buying an additional 17,949 shares during the period. Diversified Trust Co’s holdings in Verizon Communications were worth $2,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications in the 1st quarter worth approximately $25,000. Mizuho Securities Co. Ltd. bought a new stake in Verizon Communications in the second quarter worth $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications in the second quarter worth $33,000. Vima LLC purchased a new stake in Verizon Communications during the fourth quarter valued at about $36,000. Finally, Pittenger & Anderson Inc. boosted its position in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $43.87 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $45.36. The company has a 50 day simple moving average of $42.28 and a two-hundred day simple moving average of $41.13. The company has a market capitalization of $184.66 billion, a price-to-earnings ratio of 16.37, 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 quick ratio of 0.60 and a current ratio of 0.63.

Verizon Communications (NYSE:VZ) last announced 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 company 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 firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business 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. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.18%. This is a boost 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

VZ has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target 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. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. Scotiabank upped their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Raymond James upped their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Bank of America increased their target price on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.26.

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).