MJP Associates Inc. ADV Has $687,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

MJP Associates Inc. ADV boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZGet Rating) by 18.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,545 shares of the cell phone carrier’s stock after acquiring an additional 2,085 shares during the quarter. MJP Associates Inc. ADV’s holdings in Verizon Communications were worth $687,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VZ. Virginia Retirement Systems ET AL lifted its holdings in shares of Verizon Communications by 0.5% during the 1st quarter. Virginia Retirement Systems ET AL now owns 1,996,800 shares of the cell phone carrier’s stock valued at $101,717,000 after buying an additional 9,200 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of Verizon Communications by 860.0% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 336,892 shares of the cell phone carrier’s stock valued at $17,161,000 after buying an additional 301,800 shares during the last quarter. WC Walker & Associates Inc. lifted its holdings in shares of Verizon Communications by 2.7% during the 1st quarter. WC Walker & Associates Inc. now owns 41,306 shares of the cell phone carrier’s stock valued at $2,236,000 after buying an additional 1,096 shares during the last quarter. Wilson & Boucher Capital Management LLC lifted its holdings in shares of Verizon Communications by 1.2% during the 1st quarter. Wilson & Boucher Capital Management LLC now owns 17,693 shares of the cell phone carrier’s stock valued at $901,000 after buying an additional 202 shares during the last quarter. Finally, CRA Financial Services LLC lifted its holdings in shares of Verizon Communications by 9.1% during the 1st quarter. CRA Financial Services LLC now owns 16,518 shares of the cell phone carrier’s stock valued at $841,000 after buying an additional 1,375 shares during the last quarter. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

VZ opened at $41.25 on Monday. The stock has a market cap of $173.24 billion, a PE ratio of 8.27, a P/E/G ratio of 1.91 and a beta of 0.36. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. Verizon Communications Inc. has a 1 year low of $40.66 and a 1 year high of $55.51. The stock’s 50 day simple moving average is $44.82 and its 200-day simple moving average is $48.87.

Verizon Communications (NYSE:VZGet Rating) last released its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $33.79 billion for the quarter, compared to the consensus estimate of $33.77 billion. Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Sell-side analysts forecast that Verizon Communications Inc. will post 5.19 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be paid a $0.6525 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.61 annualized dividend and a yield of 6.33%. Verizon Communications’s payout ratio is currently 51.30%.

Analyst Ratings Changes

VZ has been the subject of several research reports. Raymond James reiterated an “outperform” rating and set a $64.00 price target on shares of Verizon Communications in a report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Verizon Communications from $59.00 to $58.00 in a research note on Tuesday, July 19th. Scotiabank downgraded Verizon Communications from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, July 22nd. Morgan Stanley cut their price objective on Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. Finally, Credit Suisse Group cut their price objective on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $55.68.

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total value of $80,112.36. Following the sale, the executive vice president now owns 33,403 shares of the company’s stock, valued at approximately $1,717,582.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is owned by insiders.

About Verizon Communications

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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