Boston Family Office LLC Has $3.66 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Boston Family Office LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,489 shares of the cell phone carrier’s stock after selling 3,417 shares during the quarter. Boston Family Office LLC’s holdings in Verizon Communications were worth $3,660,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new stake in shares of Verizon Communications during the 3rd quarter valued at $31,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Verizon Communications during the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Verizon Communications during the 2nd quarter worth $33,000. Finally, Accordant Advisory Group Inc raised its stake in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.5 %

Shares of NYSE VZ opened at $43.15 on Monday. Verizon Communications Inc. has a 52-week low of $36.46 and a 52-week high of $45.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The company’s 50 day moving average price is $42.90 and its 200-day moving average price is $41.56. The company has a market capitalization of $181.65 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 3.13 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is presently 116.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VZ shares. Raymond James upped their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Bank of America raised their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, September 23rd. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Citigroup raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Company 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).