Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $449,000 Position in Verizon Communications Inc. (VZ)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the second quarter, Holdings Channel reports. The institutional investor acquired 8,925 shares of the cell phone carrier’s stock, valued at approximately $449,000.

Several other institutional investors also recently made changes to their positions in the company. Swiss National Bank boosted its holdings in Verizon Communications by 2.8% in the second quarter. Swiss National Bank now owns 15,703,916 shares of the cell phone carrier’s stock valued at $790,064,000 after purchasing an additional 422,100 shares in the last quarter. Tredje AP fonden boosted its holdings in Verizon Communications by 42.2% in the second quarter. Tredje AP fonden now owns 659,538 shares of the cell phone carrier’s stock valued at $33,181,000 after purchasing an additional 195,633 shares in the last quarter. 10 15 Associates Inc. boosted its holdings in Verizon Communications by 5.7% in the second quarter. 10 15 Associates Inc. now owns 660,156 shares of the cell phone carrier’s stock valued at $33,212,000 after purchasing an additional 35,671 shares in the last quarter. Zevin Asset Management LLC acquired a new position in Verizon Communications in the second quarter valued at approximately $7,061,000. Finally, Point View Wealth Management Inc. boosted its holdings in Verizon Communications by 6.6% in the second quarter. Point View Wealth Management Inc. now owns 28,908 shares of the cell phone carrier’s stock valued at $1,454,000 after purchasing an additional 1,783 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Verizon Communications stock opened at $56.63 on Friday. Verizon Communications Inc. has a 12 month low of $43.97 and a 12 month high of $58.80. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93. The company has a market cap of $233.77 billion, a PE ratio of 15.14, a P/E/G ratio of 2.46 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The business had revenue of $32.61 billion during the quarter, compared to analysts’ expectations of $32.45 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Tuesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio is 64.44%.

A number of equities analysts recently issued reports on the company. ValuEngine downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird boosted their price objective on Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 1st. Credit Suisse Group assumed coverage on Verizon Communications in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on Verizon Communications from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, October 29th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Verizon Communications currently has a consensus rating of “Buy” and a consensus price target of $55.93.

Verizon Communications Profile

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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