AlphaQuest LLC Boosts Holdings in Verizon Communications Inc. $VZ

AlphaQuest LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 153.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,799 shares of the cell phone carrier’s stock after purchasing an additional 67,692 shares during the quarter. Verizon Communications makes up 0.3% of AlphaQuest LLC’s holdings, making the stock its 12th biggest position. AlphaQuest LLC’s holdings in Verizon Communications were worth $4,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Argent Advisors Inc. boosted its holdings in Verizon Communications by 3.8% in the 3rd quarter. Argent Advisors Inc. now owns 101,806 shares of the cell phone carrier’s stock worth $4,474,000 after buying an additional 3,724 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in shares of Verizon Communications by 55.4% in the third quarter. Trifecta Capital Advisors LLC now owns 842 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in shares of Verizon Communications by 0.5% in the third quarter. Pittenger & Anderson Inc. now owns 65,650 shares of the cell phone carrier’s stock worth $2,885,000 after acquiring an additional 355 shares during the last quarter. Valley Wealth Managers Inc. increased its position in shares of Verizon Communications by 0.4% during the third quarter. Valley Wealth Managers Inc. now owns 541,137 shares of the cell phone carrier’s stock worth $23,783,000 after purchasing an additional 2,168 shares in the last quarter. Finally, Benedict Financial Advisors Inc. raised its stake in Verizon Communications by 1.9% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 174,977 shares of the cell phone carrier’s stock valued at $7,690,000 after purchasing an additional 3,214 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.0%

VZ opened at $39.80 on Friday. The stock has a market capitalization of $167.80 billion, a PE ratio of 8.50, a P/E/G ratio of 3.76 and a beta of 0.34. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.74. The business’s 50 day moving average price is $40.25 and its 200 day moving average price is $41.55.

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

Verizon Communications Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Verizon Communications from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday. Sanford C. Bernstein lowered their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday, January 16th. 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 reissued a “hold (c+)” rating on shares of Verizon Communications in a research note on Wednesday, January 21st. Finally, Scotiabank upped their price target on Verizon Communications from $50.50 to $51.00 and gave the company a “sector perform” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and a consensus target price of $47.43.

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.