Verizon Communications Inc. (NYSE:VZ) Shares Bought by Evanson Asset Management LLC

Evanson Asset Management LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,693 shares of the cell phone carrier’s stock after purchasing an additional 677 shares during the period. Evanson Asset Management LLC’s holdings in Verizon Communications were worth $256,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Cresset Asset Management LLC lifted its stake in Verizon Communications by 9.3% during the fourth quarter. Cresset Asset Management LLC now owns 261,064 shares of the cell phone carrier’s stock valued at $9,842,000 after buying an additional 22,191 shares in the last quarter. MGO One Seven LLC boosted its stake in Verizon Communications by 1.5% in the 4th quarter. MGO One Seven LLC now owns 65,477 shares of the cell phone carrier’s stock worth $2,468,000 after purchasing an additional 969 shares during the period. Northwest Wealth Management LLC purchased a new position in Verizon Communications during the 4th quarter worth approximately $208,000. First Financial Bankshares Inc purchased a new position in Verizon Communications during the 4th quarter worth approximately $606,000. Finally, RMB Capital Management LLC raised its stake in Verizon Communications by 12.7% during the 4th quarter. RMB Capital Management LLC now owns 205,192 shares of the cell phone carrier’s stock valued at $7,736,000 after purchasing an additional 23,203 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 0.4 %

Shares of NYSE:VZ opened at $44.01 on Wednesday. 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 stock has a market capitalization of $185.25 billion, a PE ratio of 16.42, a P/E/G ratio of 4.03 and a beta of 0.42. Verizon Communications Inc. has a 1 year low of $30.62 and a 1 year high of $45.36. The firm has a fifty day moving average price of $42.36 and a 200 day moving average price of $41.15.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 in the prior year, the company posted $1.21 EPS. The firm’s revenue was up .6% on a year-over-year basis. Analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.678 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.16%. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on VZ shares. Raymond James lifted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. TD Cowen upped 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. Bank of America raised their price target 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. Finally, Royal Bank of Canada boosted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.26.

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).