Fidelis Capital Partners LLC Has $1.82 Million Stock Position in Verizon Communications Inc. $VZ

Fidelis Capital Partners LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,985 shares of the cell phone carrier’s stock after purchasing an additional 3,092 shares during the period. Fidelis Capital Partners LLC’s holdings in Verizon Communications were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of VZ. Bulwark Capital Corp acquired a new position in Verizon Communications in the second quarter valued at approximately $25,000. Advantage Trust Co raised its position in shares of Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares during the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at $29,000. Accent Capital Management LLC bought a new position in shares of Verizon Communications in the 1st quarter worth $30,000. Finally, Global Trust Asset Management LLC boosted its position in shares of Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BNP Paribas Exane lowered Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Tuesday, October 21st. Bank of America upped their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. decreased their price objective on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings downgraded shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $47.41.

Verizon Communications Trading Up 0.5%

NYSE VZ opened at $40.03 on Monday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.74 and a quick ratio of 0.60. The firm has a market cap of $168.80 billion, a P/E ratio of 8.55, a P/E/G ratio of 3.03 and a beta of 0.35. The stock’s 50-day moving average is $41.86 and its 200-day moving average is $42.69.

Verizon Communications (NYSE:VZ) last posted its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The business had revenue of $33.80 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.Verizon Communications’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were issued a dividend of $0.69 per share. The ex-dividend date was Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. Verizon Communications’s dividend payout ratio (DPR) is 58.97%.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).