118,340 Shares in Verizon Communications Inc. (NYSE:VZ) Acquired by Williams Financial LLC

Williams Financial LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, HoldingsChannel.com reports. The firm bought 118,340 shares of the cell phone carrier’s stock, valued at approximately $4,771,000. Verizon Communications makes up about 1.2% of Williams Financial LLC’s holdings, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of VZ. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications during the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Verizon Communications in the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the second quarter worth approximately $33,000. Finally, Vima LLC bought a new stake in Verizon Communications during the fourth quarter valued at approximately $36,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 1.3 %

Verizon Communications stock opened at $44.43 on Friday. Verizon Communications Inc. has a 1 year low of $30.14 and a 1 year high of $44.47. The firm’s 50 day moving average price is $41.17 and its 200-day moving average price is $40.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The stock has a market cap of $187.03 billion, a P/E ratio of 16.58, a PEG ratio of 3.99 and a beta of 0.42.

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

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.678 per share. The ex-dividend date of this dividend is Thursday, October 10th. 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 6.10%. Verizon Communications’s dividend payout ratio is presently 99.25%.

Analysts Set New Price Targets

Several research analysts have weighed in on VZ shares. JPMorgan Chase & Co. decreased their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. TD Cowen raised their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research report on Monday, September 9th. The Goldman Sachs Group began 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. Finally, Scotiabank lifted their price objective on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $45.66.

Verizon Communications 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).