Hantz Financial Services Inc. Makes New Investment in Verizon Communications Inc. (NYSE:VZ)

Hantz Financial Services Inc. acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 194,119 shares of the cell phone carrier’s stock, valued at approximately $8,005,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Verizon Communications by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 351,267,175 shares of the cell phone carrier’s stock worth $14,739,171,000 after buying an additional 1,216,963 shares in the last quarter. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter worth approximately $1,882,164,000. Capital Research Global Investors increased its stake in Verizon Communications by 92.9% during the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock worth $851,989,000 after buying an additional 10,882,873 shares in the last quarter. Capital World Investors increased its stake in Verizon Communications by 127.6% during the 4th quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock worth $821,900,000 after buying an additional 12,220,777 shares in the last quarter. Finally, Raymond James & Associates grew its position in shares of Verizon Communications by 0.6% in the second quarter. Raymond James & Associates now owns 16,458,264 shares of the cell phone carrier’s stock valued at $678,739,000 after purchasing an additional 104,447 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 1.3 %

NYSE:VZ opened at $41.78 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average is $40.86 and its two-hundred day moving average is $40.48. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $43.42. The stock has a market capitalization of $175.86 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date was Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VZ shares. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Tigress Financial upped their price target on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group started coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.78.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).