State of New Jersey Common Pension Fund D Has $60.36 Million Stake in Verizon Communications Inc. $VZ

State of New Jersey Common Pension Fund D decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,395,033 shares of the cell phone carrier’s stock after selling 2,816 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Verizon Communications were worth $60,363,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in VZ. Bulwark Capital Corp acquired a new position in Verizon Communications during the second quarter worth $25,000. Advantage Trust Co increased its stake 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 worth $26,000 after purchasing an additional 500 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $29,000. Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $30,000. Finally, RMG Wealth Management LLC acquired a new stake in Verizon Communications in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $38.83 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The company has a 50-day simple moving average of $42.84 and a two-hundred day simple moving average of $42.96. The stock has a market capitalization of $163.70 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.89 and a beta of 0.37.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 7.1%. Verizon Communications’s dividend payout ratio is presently 64.34%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VZ shares. JPMorgan Chase & Co. raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Finally, BNP Paribas Exane cut shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 target price for the company. in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.41.

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).