Benjamin Edwards Inc. Boosts Holdings in Verizon Communications Inc. $VZ

Benjamin Edwards Inc. raised its stake in Verizon Communications Inc. (NYSE:VZ) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,299,682 shares of the cell phone carrier’s stock after acquiring an additional 28,715 shares during the quarter. Benjamin Edwards Inc.’s holdings in Verizon Communications were worth $57,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of VZ. Bulwark Capital Corp purchased a new stake in Verizon Communications in the second quarter worth $25,000. Advantage Trust Co increased its holdings in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 500 shares during the last quarter. TruNorth Capital Management LLC increased its holdings in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after acquiring an additional 305 shares during the last quarter. RMG Wealth Management LLC bought a new stake in Verizon Communications in the 2nd quarter valued at about $30,000. Finally, Global Wealth Strategies & Associates lifted its holdings in Verizon Communications by 739.5% during the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after purchasing an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.4%

Shares of NYSE VZ opened at $40.13 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average of $40.50 and a 200-day moving average of $41.91. The firm has a market capitalization of $169.19 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 3.49 and a beta of 0.34. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

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

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a $0.69 dividend. The ex-dividend date is Monday, January 12th. This represents a $2.76 annualized dividend and a yield of 6.9%. Verizon Communications’s payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, October 30th. BNP Paribas Exane downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective for the company. in a report on Tuesday, October 21st. Weiss Ratings cut shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Scotiabank increased their target price on Verizon Communications from $50.50 to $51.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 30th. Finally, BNP Paribas cut Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.47.

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.