Axa S.A. Reduces Holdings in Verizon Communications Inc. (NYSE:VZ)

Axa S.A. decreased its position in Verizon Communications Inc. (NYSE:VZ) by 8.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,428,507 shares of the cell phone carrier’s stock after selling 126,689 shares during the quarter. Axa S.A.’s holdings in Verizon Communications were worth $58,912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Alliance Wealth Advisors LLC raised its stake in Verizon Communications by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after purchasing an additional 241 shares during the period. Semmax Financial Advisors Inc. increased its position in shares of Verizon Communications by 0.4% during the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock worth $2,240,000 after acquiring an additional 246 shares during the last quarter. Sawgrass Asset Management LLC grew its position in shares of Verizon Communications by 1.2% during the second quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after buying an additional 250 shares in the last quarter. Fermata Advisors LLC increased its position in shares of Verizon Communications by 5.0% in the 2nd quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 254 shares during the last quarter. Finally, BKM Wealth Management LLC raised its stake in shares of Verizon Communications by 7.4% in the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.2 %

VZ stock opened at $44.55 on Thursday. The firm’s 50-day moving average is $41.59 and its two-hundred day moving average is $40.86. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $187.53 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $45.05.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share 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 firm had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s payout ratio is presently 99.25%.

Analysts Set New Price Targets

VZ has been the subject of a number of research reports. Scotiabank lifted their price target on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, Citigroup lifted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.16.

About Verizon Communications

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).