Verizon Communications Inc. $VZ Shares Bought by SYM FINANCIAL Corp

SYM FINANCIAL Corp raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,331 shares of the cell phone carrier’s stock after purchasing an additional 410 shares during the period. SYM FINANCIAL Corp’s holdings in Verizon Communications were worth $317,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications during the 2nd quarter valued at approximately $25,000. Advantage Trust Co raised its position 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 valued at $26,000 after acquiring an additional 500 shares in the last quarter. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $29,000. Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC raised its position in shares of Verizon Communications by 222.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 500 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Scotiabank upped their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. upped their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $47.41.

Verizon Communications Trading Up 1.1%

NYSE:VZ opened at $39.25 on Tuesday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The stock has a market cap of $165.48 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.93 and a beta of 0.37. The business has a fifty day moving average of $42.73 and a 200-day moving average of $42.94. 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 Increases Dividend

The company also recently announced 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 an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 64.34%.

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).