New Hampshire Trust Boosts Stake in Verizon Communications Inc. $VZ

New Hampshire Trust raised its position in Verizon Communications Inc. (NYSE:VZ) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,919 shares of the cell phone carrier’s stock after buying an additional 697 shares during the period. New Hampshire Trust’s holdings in Verizon Communications were worth $732,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bulwark Capital Corp bought a new position in shares of Verizon Communications during the second quarter worth about $25,000. Advantage Trust Co lifted its position in shares of Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 500 shares during the last quarter. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications during the first quarter worth about $29,000. Accent Capital Management LLC bought a new position in shares of Verizon Communications during the first quarter worth about $30,000. Finally, RMG Wealth Management LLC bought a new position in shares of Verizon Communications during the second quarter worth about $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $38.83 on Friday. The firm’s 50 day moving average is $42.84 and its two-hundred day moving average is $42.97. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The firm has a market capitalization of $163.70 billion, a P/E ratio of 9.05, a PEG ratio of 2.93 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 64.34%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research analyst reports. Scotiabank increased their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research report on Monday, October 6th. BNP Paribas Exane cut 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 report on Tuesday, October 21st. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Finally, Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

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).