Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,157 shares of the cell phone carrier’s stock after purchasing an additional 4,181 shares during the quarter. Verizon Communications makes up 0.4% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 28th largest position. Commerzbank Aktiengesellschaft FI’s holdings in Verizon Communications were worth $2,223,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of VZ. Cascade Investment Advisors Inc. acquired a new stake in Verizon Communications in the 1st quarter worth about $32,000. Kepos Capital LP acquired a new stake in shares of Verizon Communications in the fourth quarter worth approximately $36,000. Steward Financial Group LLC increased its position in shares of Verizon Communications by 92.9% during the first quarter. Steward Financial Group LLC now owns 957 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 461 shares in the last quarter. True Wealth Design LLC acquired a new position in Verizon Communications in the 4th quarter valued at $42,000. Finally, Paladin Advisory Group LLC lifted its holdings in Verizon Communications by 35.4% in the 1st quarter. Paladin Advisory Group LLC now owns 1,177 shares of the cell phone carrier’s stock valued at $46,000 after purchasing an additional 308 shares in the last quarter. 61.06% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Stock Down 0.5 %
Shares of NYSE:VZ opened at $33.86 on Thursday. The firm’s 50 day moving average price is $33.88 and its 200 day moving average price is $36.04. The stock has a market cap of $142.35 billion, a price-to-earnings ratio of 6.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.36. Verizon Communications Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $42.58. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.43.
Verizon Communications Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 7.86%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, October 6th. Verizon Communications’s dividend payout ratio (DPR) is presently 53.20%.
Insider Buying and Selling at Verizon Communications
In related news, EVP Samantha Hammock sold 12,557 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $33.29, for a total transaction of $418,022.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.02% of the company’s stock.
Analyst Upgrades and Downgrades
VZ has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $44.00 target price on shares of Verizon Communications in a research report on Thursday, August 3rd. StockNews.com lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Citigroup upgraded Verizon Communications from a “neutral” rating to a “buy” rating and upped their price target for the company from $39.00 to $40.00 in a research report on Tuesday, August 29th. Wells Fargo & Company reduced their price objective on Verizon Communications from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 20th. Finally, Raymond James dropped their target price on Verizon Communications from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, July 26th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Verizon Communications has an average rating of “Hold” and a consensus target price of $43.40.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, provides 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).
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