Denali Advisors LLC Acquires 18,000 Shares of Verizon Communications Inc. (VZ)

Denali Advisors LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 421,400 shares of the cell phone carrier’s stock after purchasing an additional 18,000 shares during the period. Verizon Communications accounts for approximately 3.3% of Denali Advisors LLC’s investment portfolio, making the stock its biggest holding. Denali Advisors LLC’s holdings in Verizon Communications were worth $22,499,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VZ. Cedar Hill Associates LLC boosted its holdings in Verizon Communications by 7.7% in the second quarter. Cedar Hill Associates LLC now owns 13,539 shares of the cell phone carrier’s stock valued at $681,000 after purchasing an additional 968 shares during the last quarter. West Oak Capital LLC boosted its holdings in Verizon Communications by 2.9% in the third quarter. West Oak Capital LLC now owns 34,650 shares of the cell phone carrier’s stock valued at $1,850,000 after purchasing an additional 970 shares during the last quarter. Bailard Inc. boosted its holdings in Verizon Communications by 1.0% in the second quarter. Bailard Inc. now owns 99,356 shares of the cell phone carrier’s stock valued at $4,999,000 after purchasing an additional 977 shares during the last quarter. Live Your Vision LLC boosted its holdings in Verizon Communications by 24.0% in the second quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock valued at $265,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. boosted its holdings in Verizon Communications by 6.7% in the second quarter. Vantage Financial Partners Ltd. Inc. now owns 15,879 shares of the cell phone carrier’s stock valued at $799,000 after purchasing an additional 1,000 shares during the last quarter. 65.02% of the stock is currently owned by institutional investors and hedge funds.

VZ opened at $57.68 on Friday. Verizon Communications Inc. has a twelve month low of $46.08 and a twelve month high of $61.58. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market cap of $239.79 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.53 and a beta of 0.49.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The firm had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $32.45 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be given a dividend of $0.6025 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.18%. Verizon Communications’s dividend payout ratio (DPR) is presently 64.44%.

VZ has been the topic of several recent research reports. Bank of America reaffirmed a “buy” rating and issued a $58.00 price target on shares of Verizon Communications in a report on Monday, October 22nd. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Scotiabank set a $62.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Wednesday, October 24th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.22.

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Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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