Radnor Capital Management LLC Has $4.19 Million Stake in Verizon Communications Inc. (NYSE:VZ)

Radnor Capital Management LLC increased its holdings in Verizon Communications Inc. (NYSE:VZGet Rating) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,634 shares of the cell phone carrier’s stock after buying an additional 1,361 shares during the period. Verizon Communications accounts for 1.1% of Radnor Capital Management LLC’s holdings, making the stock its 12th largest position. Radnor Capital Management LLC’s holdings in Verizon Communications were worth $4,194,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Norges Bank acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $1,884,917,000. BlackRock Inc. raised its position in Verizon Communications by 4.8% during the first quarter. BlackRock Inc. now owns 304,700,845 shares of the cell phone carrier’s stock valued at $15,521,461,000 after purchasing an additional 13,959,954 shares in the last quarter. Vanguard Group Inc. raised its position in Verizon Communications by 2.7% during the first quarter. Vanguard Group Inc. now owns 330,221,086 shares of the cell phone carrier’s stock valued at $16,821,462,000 after purchasing an additional 8,570,818 shares in the last quarter. Fisher Asset Management LLC raised its position in Verizon Communications by 71.7% during the first quarter. Fisher Asset Management LLC now owns 16,787,501 shares of the cell phone carrier’s stock valued at $855,155,000 after purchasing an additional 7,008,579 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Verizon Communications by 81.3% during the first quarter. Renaissance Technologies LLC now owns 10,604,493 shares of the cell phone carrier’s stock valued at $540,193,000 after purchasing an additional 4,756,222 shares in the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on VZ shares. Raymond James restated an “outperform” rating and set a $64.00 price objective on shares of Verizon Communications in a research report on Thursday, July 7th. Wolfe Research lowered their price objective on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating for the company in a research report on Thursday, June 2nd. Barclays downgraded shares of Verizon Communications from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. Wells Fargo & Company lowered their price target on shares of Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, July 8th. Finally, StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, September 14th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has an average rating of “Hold” and a consensus target price of $55.68.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $41.25 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.56. Verizon Communications Inc. has a twelve month low of $40.66 and a twelve month high of $55.51. The stock has a market cap of $173.24 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.91 and a beta of 0.36. The company’s fifty day moving average is $44.82 and its 200 day moving average is $48.87.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The business’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.37 EPS. Sell-side analysts forecast that Verizon Communications Inc. will post 5.19 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.6525 per share. The ex-dividend date is Thursday, October 6th. This represents a $2.61 dividend on an annualized basis and a yield of 6.33%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.64. Verizon Communications’s dividend payout ratio is 51.30%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the sale, the executive vice president now owns 33,403 shares of the company’s stock, valued at $1,717,582.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Verizon Communications Profile

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

Featured Articles

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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.