Adviser Investments LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 546.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 63,010 shares of the cell phone carrier’s stock after purchasing an additional 53,264 shares during the period. Adviser Investments LLC’s holdings in Verizon Communications were worth $3,170,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. HC Financial Advisors Inc. purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $1,371,000. Argent Trust Co boosted its position in shares of Verizon Communications by 10.9% in the 4th quarter. Argent Trust Co now owns 48,315 shares of the cell phone carrier’s stock worth $2,558,000 after buying an additional 4,748 shares in the last quarter. Penbrook Management LLC purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $1,563,000. Cedar Hill Associates LLC boosted its position in shares of Verizon Communications by 10.9% in the 4th quarter. Cedar Hill Associates LLC now owns 11,854 shares of the cell phone carrier’s stock worth $627,000 after buying an additional 1,164 shares in the last quarter. Finally, Colonial Trust Advisors boosted its position in shares of Verizon Communications by 27.0% in the 4th quarter. Colonial Trust Advisors now owns 178,155 shares of the cell phone carrier’s stock worth $9,430,000 after buying an additional 37,927 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.

NYSE:VZ opened at $53.73 on Friday. The stock has a market capitalization of $220.39 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.94 and a beta of 0.71. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.92 and a current ratio of 0.96. Verizon Communications Inc. has a 12-month low of $43.97 and a 12-month high of $55.90.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.06. The company had revenue of $32.20 billion for the quarter, compared to analyst estimates of $31.78 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Analysts forecast that Verizon Communications Inc. will post 4.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.49%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Tuesday, October 9th. Verizon Communications’s dividend payout ratio is 64.44%.

Several research firms recently commented on VZ. Credit Suisse Group began coverage on shares of Verizon Communications in a research report on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 price objective on the stock. Moffett Nathanson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 4th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Robert W. Baird boosted their price objective on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Finally, Scotiabank set a $61.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.42.

About Verizon Communications

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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