Gyroscope Capital Management Group LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,300 shares of the cell phone carrier’s stock after acquiring an additional 855 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Verizon Communications were worth $851,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA bought a new position in shares of Verizon Communications during the 2nd quarter worth approximately $27,000. Toth Financial Advisory Corp bought a new position in shares of Verizon Communications during the 2nd quarter worth approximately $34,000. Laidlaw Wealth Management LLC lifted its position in shares of Verizon Communications by 6,131.5% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier’s stock worth $36,000 after buying an additional 1,935,783 shares in the last quarter. HighMark Wealth Management LLC lifted its position in shares of Verizon Communications by 52.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock worth $43,000 after buying an additional 270 shares in the last quarter. Finally, Evolution Wealth Advisors LLC lifted its position in shares of Verizon Communications by 166.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock worth $44,000 after buying an additional 500 shares in the last quarter. 64.85% of the stock is currently owned by hedge funds and other institutional investors.

NYSE VZ opened at $58.05 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $240.21 billion, a P/E ratio of 12.59, a P/E/G ratio of 3.67 and a beta of 0.46. The company has a fifty day moving average of $59.66 and a 200-day moving average of $57.28. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. The business had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. As a group, analysts forecast that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.6275 per share. This represents a $2.51 annualized dividend and a dividend yield of 4.32%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 8th. Verizon Communications’s dividend payout ratio is 52.18%.

Several equities research analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a research note on Monday, July 27th. Raymond James raised their price target on shares of Verizon Communications from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Moffett Nathanson restated a “hold” rating and set a $62.00 price target on shares of Verizon Communications in a research note on Friday, July 24th. Oppenheimer began coverage on shares of Verizon Communications in a research note on Tuesday, September 15th. They set a “buy” rating and a $70.00 price target for the company. Finally, Argus upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and a consensus price target of $62.24.

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; 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.

Further Reading: Return on Investment (ROI) Defined, Explained

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

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