Capital International Inc. CA Has $2.45 Million Position in Verizon Communications Inc. (NYSE:VZ)

Capital International Inc. CA boosted its position in Verizon Communications Inc. (NYSE:VZ) by 23.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,287 shares of the cell phone carrier’s stock after purchasing an additional 10,951 shares during the period. Capital International Inc. CA’s holdings in Verizon Communications were worth $2,446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Private Portfolio Partners LLC increased its holdings in Verizon Communications by 0.9% in the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after purchasing an additional 255 shares in the last quarter. BKM Wealth Management LLC increased its stake in shares of Verizon Communications by 7.4% in the first quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after buying an additional 257 shares during the period. Princeton Global Asset Management LLC increased its stake in shares of Verizon Communications by 2.4% in the fourth quarter. Princeton Global Asset Management LLC now owns 10,961 shares of the cell phone carrier’s stock valued at $413,000 after buying an additional 260 shares during the period. Western Financial Corp CA increased its stake in shares of Verizon Communications by 1.7% in the fourth quarter. Western Financial Corp CA now owns 16,564 shares of the cell phone carrier’s stock valued at $624,000 after buying an additional 271 shares during the period. Finally, Walker Asset Management LLC increased its stake in shares of Verizon Communications by 2.1% in the first quarter. Walker Asset Management LLC now owns 13,168 shares of the cell phone carrier’s stock valued at $553,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ traded up $0.14 during midday trading on Friday, reaching $40.09. 15,911,465 shares of the company traded hands, compared to its average volume of 18,588,142. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The firm has a market capitalization of $168.75 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41. The firm’s fifty day moving average price is $40.58 and its two-hundred day moving average price is $40.43.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. During the same period in the previous year, the company posted $1.21 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.64%. Verizon Communications’s payout ratio is 99.25%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VZ. Scotiabank increased their price target on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. TD Cowen upped their target price on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.68.

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).