Verizon Communications Inc. (VZ) Holdings Lifted by Baldwin Brothers Inc. MA

Baldwin Brothers Inc. MA boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 166,594 shares of the cell phone carrier’s stock after purchasing an additional 1,834 shares during the period. Verizon Communications accounts for approximately 1.3% of Baldwin Brothers Inc. MA’s portfolio, making the stock its 27th largest position. Baldwin Brothers Inc. MA’s holdings in Verizon Communications were worth $8,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of VZ. Live Your Vision LLC grew its holdings in shares of Verizon Communications by 24.0% during the 2nd quarter. Live Your Vision LLC now owns 5,166 shares of the cell phone carrier’s stock worth $265,000 after purchasing an additional 1,000 shares in the last quarter. Palo Capital Inc. grew its holdings in shares of Verizon Communications by 0.9% during the 2nd quarter. Palo Capital Inc. now owns 112,404 shares of the cell phone carrier’s stock worth $5,655,000 after purchasing an additional 1,012 shares in the last quarter. Orca Investment Management LLC grew its holdings in shares of Verizon Communications by 3.9% during the 2nd quarter. Orca Investment Management LLC now owns 27,605 shares of the cell phone carrier’s stock worth $1,389,000 after purchasing an additional 1,047 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Verizon Communications by 54.1% during the 4th quarter. Westside Investment Management Inc. now owns 3,058 shares of the cell phone carrier’s stock worth $160,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Farr Miller & Washington LLC DC grew its holdings in shares of Verizon Communications by 1.9% during the 4th quarter. Farr Miller & Washington LLC DC now owns 60,210 shares of the cell phone carrier’s stock worth $3,187,000 after purchasing an additional 1,097 shares in the last quarter. 64.22% of the stock is currently owned by institutional investors.

Shares of VZ stock opened at $54.55 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $226.91 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.99 and a beta of 0.69. Verizon Communications Inc. has a one year low of $43.97 and a one year high of $55.42.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be paid a $0.6025 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.42%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s payout ratio is currently 63.10%.

Several analysts have recently weighed in on VZ shares. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, August 1st. Scotiabank set a $61.00 price objective on Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, July 25th. Goldman Sachs Group raised Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $56.00 in a report on Thursday, June 21st. Deutsche Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, June 19th. Finally, Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $56.00 to $50.00 in a research note on Tuesday, September 4th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.17.

Verizon Communications Company 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; 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.

See Also: Hedge Funds

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

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