AG2R LA Mondiale Gestion D Actifs Purchases 1,508 Shares of Verizon Communications Inc. $VZ

AG2R LA Mondiale Gestion D Actifs increased its position in Verizon Communications Inc. (NYSE:VZ) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 273,778 shares of the cell phone carrier’s stock after purchasing an additional 1,508 shares during the quarter. Verizon Communications makes up 0.6% of AG2R LA Mondiale Gestion D Actifs’ holdings, making the stock its 25th largest position. AG2R LA Mondiale Gestion D Actifs’ holdings in Verizon Communications were worth $11,846,000 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. Bulwark Capital Corp acquired a new position in shares of Verizon Communications in the second quarter valued at $25,000. Advantage Trust Co boosted its holdings in shares of Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares during the period. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications during the 1st quarter worth about $29,000. Accent Capital Management LLC acquired a new position in Verizon Communications in the 1st quarter valued at about $30,000. Finally, RMG Wealth Management LLC bought a new position in Verizon Communications in the 2nd quarter valued at about $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ opened at $38.83 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The firm has a market cap of $163.70 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.37. The business’s fifty day moving average is $42.84 and its 200-day moving average is $42.96.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 7.1%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is 64.34%.

Analysts Set New Price Targets

Several research firms have recently commented on VZ. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Scotiabank increased their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Finally, BNP Paribas Exane downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

Verizon Communications Company 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).