Vise Technologies Inc. increased its position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 126.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 422,148 shares of the cell phone carrier’s stock after acquiring an additional 236,012 shares during the period. Vise Technologies Inc.’s holdings in Verizon Communications were worth $17,874,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Robinswood Financial LLC purchased a new stake in shares of Verizon Communications in the first quarter worth $27,000. Lam Group Inc. purchased a new position in Verizon Communications during the first quarter worth about $28,000. Strengthening Families & Communities LLC increased its stake in Verizon Communications by 490.0% in 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. EQ Wealth Advisors LLC bought a new position in Verizon Communications in the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors raised its holdings in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
Verizon Communications Stock Performance
NYSE:VZ opened at $50.18 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The firm has a market cap of $208.49 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.25. The business has a 50 day moving average price of $45.73 and a 200-day moving average price of $47.38.
Verizon Communications Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s dividend payout ratio is 73.70%.
Analyst Upgrades and Downgrades
VZ has been the subject of several recent analyst reports. Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. Moffett Nathanson dropped their target price on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. TD Cowen lifted their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Hold” and a consensus price target of $50.84.
Read Our Latest Stock Report on VZ
Insider Buying and Selling at Verizon Communications
In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the sale, the chief executive officer directly owned 108,766 shares of the company’s stock, valued at $5,444,825.96. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company’s stock.
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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