Hsbc Holdings PLC lifted its position in Verizon Communications Inc. (NYSE:VZ – Free Report) by 12.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,228,041 shares of the cell phone carrier’s stock after acquiring an additional 1,442,853 shares during the quarter. Hsbc Holdings PLC’s holdings in Verizon Communications were worth $539,276,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC grew its position in 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 purchasing an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Verizon Communications in the third quarter valued at $29,000. EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors grew its holdings in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
Verizon Communications Stock Up 0.1%
Shares of 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 debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a market capitalization of $189.72 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.11 and a beta of 0.24.
Verizon Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, July 10th. Verizon Communications’s payout ratio is presently 69.02%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Citigroup upped their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Oppenheimer upped their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.
Get Our Latest Stock Report on VZ
Verizon Communications 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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