GW Henssler & Associates Ltd. lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 47,332 shares of the cell phone carrier’s stock after buying an additional 2,360 shares during the quarter. GW Henssler & Associates Ltd.’s holdings in Verizon Communications were worth $2,381,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Verizon Communications in the first quarter worth $128,000. Rainier Group Investment Advisory LLC acquired a new stake in Verizon Communications during the 1st quarter valued at $134,000. Elmwood Wealth Management Inc. acquired a new stake in Verizon Communications during the 1st quarter valued at $146,000. IMA Wealth Inc. acquired a new stake in Verizon Communications during the 2nd quarter valued at $187,000. Finally, Clarus Wealth Advisors acquired a new stake in Verizon Communications during the 2nd quarter valued at $182,000. 64.11% of the stock is owned by institutional investors.
NYSE VZ opened at $54.90 on Friday. Verizon Communications Inc. has a 12 month low of $43.97 and a 12 month high of $55.90. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market cap of $222.74 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.15 and a beta of 0.71.
The business 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 dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a yield of 4.39%. This is an increase 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%.
A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, August 1st. Credit Suisse Group assumed coverage on shares of Verizon Communications in a report on Tuesday, July 10th. They set an “outperform” rating and a $58.00 price target for the company. Scotiabank set a $61.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Moffett Nathanson reaffirmed a “neutral” rating and set a $56.00 price target on shares of Verizon Communications in a report on Tuesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.42.
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; 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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