Verizon Communications Inc. (NYSE:VZ) Shares Bought by Optimist Retirement Group LLC

Optimist Retirement Group LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,175 shares of the cell phone carrier’s stock after acquiring an additional 1,208 shares during the period. Verizon Communications makes up approximately 1.2% of Optimist Retirement Group LLC’s investment portfolio, making the stock its 20th biggest position. Optimist Retirement Group LLC’s holdings in Verizon Communications were worth $2,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Leo Wealth LLC acquired a new stake in Verizon Communications in the 4th quarter valued at about $3,346,000. Gateway Investment Advisers LLC boosted its holdings in Verizon Communications by 15.4% during the second quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after buying an additional 37,732 shares in the last quarter. Mosley Wealth Management acquired a new position in Verizon Communications in the fourth quarter worth approximately $433,000. Harbor Investment Advisory LLC increased its holdings in shares of Verizon Communications by 4.4% in the first quarter. Harbor Investment Advisory LLC now owns 22,894 shares of the cell phone carrier’s stock valued at $961,000 after buying an additional 969 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Verizon Communications by 196.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 647,218 shares of the cell phone carrier’s stock valued at $24,400,000 after acquiring an additional 428,776 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.4 %

Verizon Communications stock opened at $43.89 on Thursday. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $45.05. The company’s fifty day moving average price is $41.35 and its two-hundred day moving average price is $40.73. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The company has a market capitalization of $184.74 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 3.99 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.18%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s payout ratio is presently 101.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on VZ shares. TD Cowen lifted their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price 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. KeyCorp cut their price target on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Finally, Scotiabank raised their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $45.66.

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).