Verizon Communications Inc. $VZ Stock Position Boosted by 17 Capital Partners LLC

17 Capital Partners LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,398 shares of the cell phone carrier’s stock after buying an additional 3,774 shares during the quarter. 17 Capital Partners LLC’s holdings in Verizon Communications were worth $926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in VZ. Brighton Jones LLC raised its stake in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after buying an additional 16,704 shares in the last quarter. Crestwood Advisors Group LLC raised its position in Verizon Communications by 11.3% in the first quarter. Crestwood Advisors Group LLC now owns 15,500 shares of the cell phone carrier’s stock worth $703,000 after acquiring an additional 1,572 shares in the last quarter. Accredited Investors Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at about $260,000. Gratus Wealth Advisors LLC bought a new position in shares of Verizon Communications during the 1st quarter valued at about $205,000. Finally, SYM FINANCIAL Corp grew its stake in shares of Verizon Communications by 4.0% in the 1st quarter. SYM FINANCIAL Corp now owns 6,921 shares of the cell phone carrier’s stock worth $314,000 after purchasing an additional 268 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $41.22 on Thursday. The company’s fifty day moving average is $41.40 and its two-hundred day moving average is $42.57. The company has a market cap of $173.78 billion, a P/E ratio of 8.81, a price-to-earnings-growth ratio of 3.03 and a beta of 0.35. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.74 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last issued its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $33.82 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.Verizon Communications’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 earnings per share. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were issued a $0.69 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

VZ has been the subject of several recent research reports. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Scotiabank raised their price objective on Verizon Communications from $50.50 to $51.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada cut their target price on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.41.

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).