Verizon Communications Inc. (NYSE:VZ) Position Increased by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,486 shares of the cell phone carrier’s stock after buying an additional 418 shares during the quarter. EP Wealth Advisors LLC’s holdings in Verizon Communications were worth $4,639,000 at the end of the most recent quarter.

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

Verizon Communications Stock Performance

Shares of VZ stock opened at $44.91 on Tuesday. The stock’s fifty day simple moving average is $41.88 and its 200-day simple moving average is $40.99. 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 current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $45.36.

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

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s payout ratio is currently 101.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. reduced 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 note on Tuesday, July 23rd. Citigroup raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. 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, Scotiabank lifted their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Eight equities 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.09.

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).