Duality Advisers LP Makes New Investment in Verizon Communications Inc. (NYSE:VZ)
Duality Advisers LP bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 71,427 shares of the cell phone carrier’s stock, valued at approximately $3,938,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. LeJeune Puetz Investment Counsel LLC increased its position in Verizon Communications by 0.6% during the 1st quarter. LeJeune Puetz Investment Counsel LLC now owns 27,850 shares of the cell phone carrier’s stock worth $1,496,000 after purchasing an additional 175 shares in the last quarter. River Wealth Advisors LLC boosted its position in Verizon Communications by 0.6% in the 1st quarter. River Wealth Advisors LLC now owns 29,428 shares of the cell phone carrier’s stock valued at $1,581,000 after buying an additional 181 shares during the last quarter. Wealth Advisors Inc. grew its stake in Verizon Communications by 2.7% during the 1st quarter. Wealth Advisors Inc. now owns 7,105 shares of the cell phone carrier’s stock valued at $410,000 after purchasing an additional 185 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its stake in shares of Verizon Communications by 0.9% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 21,030 shares of the cell phone carrier’s stock worth $1,159,000 after buying an additional 193 shares during the last quarter. Finally, Telemus Capital LLC lifted its position in shares of Verizon Communications by 0.5% during the first quarter. Telemus Capital LLC now owns 39,972 shares of the cell phone carrier’s stock worth $2,294,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 65.23% of the company’s stock.
Shares of NYSE VZ opened at $57.48 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.94. Verizon Communications Inc. has a 12 month low of $48.84 and a 12 month high of $62.22. The company has a market cap of $237.11 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 3.52 and a beta of 0.45. The business has a fifty day simple moving average of $55.64 and a 200-day simple moving average of $56.51.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 9th. Verizon Communications’s dividend payout ratio is 51.14%.
Several brokerages recently issued reports on VZ. Robert W. Baird reduced their price objective on Verizon Communications from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. ValuEngine lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 1st. Morgan Stanley dropped their price objective on shares of Verizon Communications from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Friday, April 17th. Nomura restated a “hold” rating and issued a $61.00 target price on shares of Verizon Communications in a research note on Sunday, April 26th. Finally, JPMorgan Chase & Co. dropped their price target on Verizon Communications from $63.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, April 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.00.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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