Blueshift Asset Management LLC Has $1.59 Million Stock Position in Verizon Communications Inc. $VZ

Blueshift Asset Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 17.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,625 shares of the cell phone carrier’s stock after purchasing an additional 5,315 shares during the quarter. Blueshift Asset Management LLC’s holdings in Verizon Communications were worth $1,585,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of VZ. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter valued at about $25,000. Advantage Trust Co increased its position in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares during the period. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the first quarter valued at $29,000. Accent Capital Management LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $30,000. Finally, RMG Wealth Management LLC acquired a new stake in Verizon Communications during the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VZ shares. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Weiss Ratings lowered shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Royal Bank Of Canada dropped their price target on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Finally, BNP Paribas Exane cut shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.41.

Verizon Communications Price Performance

VZ stock opened at $40.76 on Tuesday. The firm has a 50 day moving average of $40.92 and a 200-day moving average of $42.42. The company has a current ratio of 0.74, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The firm has a market capitalization of $171.86 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 3.03 and a beta of 0.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $1.19 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.8%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is presently 58.97%.

Verizon Communications Company 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).