AlphaQuest LLC Purchases 12,493 Shares of Verizon Communications Inc. $VZ

Key Points

• AlphaQuest LLC increased its position in Verizon Communications by 39.5%, acquiring an additional 12,493 shares, bringing its total holdings to 44,107 shares valued at approximately $1.9 million.
• Verizon recently declared a quarterly dividend of $0.69 per share, marking an increase from the previous $0.68, with a dividend yield of 7.1%.
• Verizon's stock has received various ratings from analysts, with the consensus target price set at $47.41 and current holdings by institutional investors at approximately 62.06% of the company's stock.

AlphaQuest LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 39.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,107 shares of the cell phone carrier's stock after acquiring an additional 12,493 shares during the period. AlphaQuest LLC's holdings in Verizon Communications were worth $1,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bulwark Capital Corp bought a new position in Verizon Communications in the 2nd quarter valued at approximately $25,000. Advantage Trust Co increased its position in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 500 shares during the period. 1 North Wealth Services LLC acquired a new position in Verizon Communications in the 1st quarter valued at approximately $29,000. Accent Capital Management LLC acquired a new position in Verizon Communications in the 1st quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC increased its position in Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier's stock valued at $31,000 after acquiring an additional 500 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Up 1.0%

VZ opened at $38.77 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The company's 50-day moving average is $42.94 and its 200 day moving average is $42.99. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The firm has a market capitalization of $163.47 billion, a P/E ratio of 9.04, a PEG ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the firm earned $1.15 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. Verizon Communications's payout ratio is 64.34%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VZ. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Verizon Communications in a research report on Wednesday, October 8th. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. BNP Paribas Exane lowered shares of Verizon Communications from an "outperform" rating to a "neutral" rating and set a $44.00 target price on the stock. in a research note on Tuesday. Finally, Royal Bank Of Canada increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.41.

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).

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