Verizon Communications Inc. (NYSE:VZ) Shares Acquired by SimpliFi Inc.

SimpliFi Inc. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,187 shares of the cell phone carrier’s stock after purchasing an additional 277 shares during the quarter. Verizon Communications accounts for about 0.6% of SimpliFi Inc.’s investment portfolio, making the stock its 19th largest holding. SimpliFi Inc.’s holdings in Verizon Communications were worth $1,266,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of VZ. International Assets Investment Management LLC raised its holdings in shares of Verizon Communications by 4,520.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock valued at $216,266,000 after buying an additional 4,711,309 shares during the period. Capital Investment Counsel Inc grew its position in Verizon Communications by 1.6% in the third quarter. Capital Investment Counsel Inc now owns 46,416 shares of the cell phone carrier’s stock valued at $2,085,000 after acquiring an additional 711 shares in the last quarter. McAdam LLC raised its stake in shares of Verizon Communications by 3.0% during the third quarter. McAdam LLC now owns 18,789 shares of the cell phone carrier’s stock valued at $844,000 after purchasing an additional 543 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Verizon Communications by 6.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 143,487 shares of the cell phone carrier’s stock worth $6,444,000 after purchasing an additional 8,932 shares in the last quarter. Finally, Eagle Bay Advisors LLC boosted its stake in shares of Verizon Communications by 26.0% in the third quarter. Eagle Bay Advisors LLC now owns 8,368 shares of the cell phone carrier’s stock valued at $376,000 after purchasing an additional 1,725 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on VZ shares. Bank of America raised their target price on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. Scotiabank upped their target price on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. UBS Group raised their price target on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, KeyCorp cut their price target on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $42.87 on Thursday. The stock has a market cap of $180.45 billion, a P/E ratio of 16.00, a P/E/G ratio of 4.02 and a beta of 0.42. The firm’s 50-day simple moving average is $43.05 and its 200 day simple moving average is $41.29. Verizon Communications Inc. has a fifty-two week low of $32.97 and a fifty-two week high of $45.36. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same period last year, the firm posted $1.22 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Equities analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is currently 101.12%.

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).