Commerzbank Aktiengesellschaft FI Acquires 71,216 Shares of Verizon Communications Inc. $VZ

Commerzbank Aktiengesellschaft FI raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,605 shares of the cell phone carrier’s stock after acquiring an additional 71,216 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Verizon Communications were worth $14,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advantage Trust Co lifted its position in Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. TruNorth Capital Management LLC lifted its holdings in shares of Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after acquiring an additional 305 shares during the last quarter. Global Wealth Strategies & Associates grew its position in Verizon Communications by 739.5% in the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after acquiring an additional 599 shares in the last quarter. Global Trust Asset Management LLC grew its position in Verizon Communications by 222.2% in the second quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. Finally, RMG Wealth Management LLC bought a new position in Verizon Communications in the second quarter valued at $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.53 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.74. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $47.35. The business has a 50 day moving average price of $40.37 and a 200-day moving average price of $41.62. The firm has a market cap of $166.68 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 3.77 and a beta of 0.34.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $33.82 billion during the quarter, compared to analyst estimates of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Monday, January 12th. Verizon Communications’s dividend payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VZ shares. BNP Paribas Exane lowered Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Tuesday, October 21st. JPMorgan Chase & Co. decreased their price objective on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein dropped their target price on Verizon Communications from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, January 16th. TD Cowen reduced their price target on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Verizon Communications in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.07.

Verizon Communications Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.