NCM Capital Management LLC increased its position in Verizon Communications Inc. (NYSE:VZ – Free Report) by 80.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,230 shares of the cell phone carrier’s stock after purchasing an additional 14,838 shares during the period. NCM Capital Management LLC’s holdings in Verizon Communications were worth $1,353,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL lifted its position in Verizon Communications by 8.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock valued at $113,000 after buying an additional 219 shares during the period. KW Wealth Management LLC grew its position in shares of Verizon Communications by 11.8% in the 4th quarter. KW Wealth Management LLC now owns 11,814 shares of the cell phone carrier’s stock worth $481,000 after buying an additional 1,244 shares during the period. MidFirst Bank purchased a new position in Verizon Communications during the 4th quarter valued at about $2,860,000. DGS Capital Management LLC boosted its stake in Verizon Communications by 14.2% during the fourth quarter. DGS Capital Management LLC now owns 28,177 shares of the cell phone carrier’s stock worth $1,148,000 after acquiring an additional 3,506 shares in the last quarter. Finally, Coastline Complete Wealth LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $216,000. Institutional investors own 62.06% of the company’s stock.
Verizon Communications Stock Performance
VZ stock opened at $45.44 on Friday. The stock’s 50 day simple moving average is $46.92 and its 200 day simple moving average is $45.66. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock has a market capitalization of $189.72 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24.
Verizon Communications Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio is currently 69.02%.
Analyst Ratings Changes
A number of brokerages have recently commented on VZ. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Oppenheimer boosted their target price on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, Morgan Stanley lifted their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.
Check Out Our Latest Research Report on Verizon Communications
About Verizon Communications
Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.
The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.
Read More
- Five stocks we like better than Verizon Communications
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Free Report).
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.
