Verizon Communications Inc. (NYSE:VZ – Get Free Report) announced a quarterly dividend on Thursday, June 4th. Stockholders of record on Friday, July 10th will be given a dividend of 0.7075 per share by the cell phone carrier on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th.
Verizon Communications has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Verizon Communications has a payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Verizon Communications to earn $5.25 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 53.9%.
Verizon Communications Stock Up 1.2%
Shares of Verizon Communications stock opened at $42.58 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The stock has a 50 day moving average price of $46.38 and a two-hundred day moving average price of $45.97. The stock has a market capitalization of $177.80 billion, a P/E ratio of 10.39, a PEG ratio of 1.02 and a beta of 0.26. Verizon Communications has a 12-month low of $38.39 and a 12-month high of $51.68.
Hedge Funds Weigh In On Verizon Communications
Hedge funds and other institutional investors have recently made changes to their positions in the company. Strengthening Families & Communities LLC increased its holdings in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 539 shares during the last quarter. Robinswood Financial LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at $27,000. Holos Integrated Wealth LLC bought a new position in Verizon Communications in the fourth quarter valued at about $28,000. Lam Group Inc. acquired a new position in Verizon Communications during the 1st quarter worth approximately $28,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $29,000. 62.06% of the stock is owned by institutional investors.
Verizon Communications Company Profile
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.
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