Thematics Asset Management Invests $4.95 Million in Verizon Communications Inc. (NYSE:VZ)

Thematics Asset Management acquired a new position in Verizon Communications Inc. (NYSE:VZFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 131,324 shares of the cell phone carrier’s stock, valued at approximately $4,951,000.

Other institutional investors have also made changes to their positions in the company. Pacifica Partners Inc. raised its position in Verizon Communications by 4.6% during the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after purchasing an additional 255 shares in the last quarter. Private Portfolio Partners LLC increased its holdings in shares of Verizon Communications by 0.9% during the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after buying an additional 255 shares in the last quarter. Selective Wealth Management Inc. increased its holdings in shares of Verizon Communications by 2.8% during the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock worth $374,000 after buying an additional 257 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Verizon Communications by 24.9% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock worth $49,000 after buying an additional 258 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Verizon Communications by 2.4% during the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock worth $413,000 after buying an additional 260 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VZ has been the subject of several research analyst reports. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Tigress Financial boosted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Oppenheimer reissued an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Wells Fargo & Company cut their price target on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.77.

Check Out Our Latest Report on VZ

Verizon Communications Stock Down 0.9 %

Shares of VZ stock traded down $0.39 on Friday, reaching $40.94. 10,410,163 shares of the company were exchanged, compared to its average volume of 15,627,389. The company has a market cap of $172.33 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.00 and a beta of 0.42. The company has a 50-day moving average of $40.27 and a 200-day moving average of $39.76. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.67. Verizon Communications Inc. has a one year low of $30.14 and a one year high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The company had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.50%. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

About Verizon Communications

(Free Report)

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).

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

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