Foster & Motley Inc. Purchases 1,733 Shares of Verizon Communications Inc. (NYSE:VZ)
Foster & Motley Inc. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.9% in the 2nd quarter, Holdings Channel reports. The firm owned 196,246 shares of the cell phone carrier’s stock after buying an additional 1,733 shares during the period. Verizon Communications accounts for approximately 1.6% of Foster & Motley Inc.’s holdings, making the stock its 12th biggest position. Foster & Motley Inc.’s holdings in Verizon Communications were worth $11,212,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centaurus Financial Inc. increased its holdings in Verizon Communications by 18.2% during the first quarter. Centaurus Financial Inc. now owns 1,476 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 227 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Verizon Communications during the second quarter valued at approximately $31,000. Daiwa SB Investments Ltd. increased its holdings in Verizon Communications by 120.0% during the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after buying an additional 480 shares during the last quarter. SeaBridge Investment Advisors LLC increased its holdings in Verizon Communications by 506.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after buying an additional 850 shares during the last quarter. Finally, Cascade Investment Advisors Inc. increased its holdings in Verizon Communications by 21.5% during the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after buying an additional 183 shares during the last quarter. 65.55% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on VZ. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group raised shares of Loma Negra Compania Indl Argentina from a “sell” rating to a “neutral” rating in a report on Thursday, May 30th. Royal Bank of Canada set a €18.50 ($21.51) target price on shares of ENI and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Citigroup set a $12.00 target price on shares of Avaya and gave the company a “hold” rating in a report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.87.
Shares of VZ traded up $0.72 during mid-day trading on Friday, reaching $57.08. The stock had a trading volume of 12,332,514 shares, compared to its average volume of 11,086,294. The firm has a market capitalization of $236.07 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 2.82 and a beta of 0.51. Verizon Communications Inc. has a 12 month low of $51.43 and a 12 month high of $61.58. The business’s fifty day moving average price is $57.29. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.83 and a current ratio of 0.87.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a $0.6025 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.22%. Verizon Communications’s payout ratio is currently 51.17%.
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.
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