Daymark Wealth Partners LLC Has $12.01 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Daymark Wealth Partners LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 267,401 shares of the cell phone carrier’s stock after buying an additional 623 shares during the period. Daymark Wealth Partners LLC’s holdings in Verizon Communications were worth $12,009,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in VZ. Vanguard Group Inc. grew its position in Verizon Communications by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 351,267,175 shares of the cell phone carrier’s stock worth $14,739,171,000 after acquiring an additional 1,216,963 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Verizon Communications by 3.0% during the second quarter. Legal & General Group Plc now owns 38,357,031 shares of the cell phone carrier’s stock worth $1,581,848,000 after purchasing an additional 1,106,887 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Verizon Communications by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 35,561,841 shares of the cell phone carrier’s stock valued at $1,466,446,000 after buying an additional 535,322 shares in the last quarter. Raymond James & Associates lifted its position in Verizon Communications by 0.6% during the 2nd quarter. Raymond James & Associates now owns 16,458,264 shares of the cell phone carrier’s stock worth $678,739,000 after buying an additional 104,447 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Verizon Communications by 7.7% during the 2nd quarter. American Century Companies Inc. now owns 13,127,360 shares of the cell phone carrier’s stock worth $541,372,000 after acquiring an additional 936,823 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 0.2 %

Shares of NYSE VZ traded up $0.09 during midday trading on Wednesday, reaching $44.10. 3,035,099 shares of the stock were exchanged, compared to its average volume of 18,610,805. Verizon Communications Inc. has a 12 month low of $30.62 and a 12 month high of $45.36. The company has a market capitalization of $185.63 billion, a price-to-earnings ratio of 16.43, 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. The business has a 50-day simple moving average of $42.44 and a two-hundred day simple moving average of $41.18.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share 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 firm had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.15%. 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 dividend payout ratio is presently 101.12%.

Analyst Ratings Changes

VZ has been the subject of a number of research analyst reports. Raymond James boosted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. KeyCorp decreased their price target on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Finally, Citigroup raised their target price 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. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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).