Brandywine Global Investment Management LLC Grows Stake in Verizon Communications Inc. (NYSE:VZ)

Brandywine Global Investment Management LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 41.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,930,312 shares of the cell phone carrier's stock after buying an additional 1,152,499 shares during the period. Verizon Communications makes up 1.3% of Brandywine Global Investment Management LLC's portfolio, making the stock its 16th biggest position. Brandywine Global Investment Management LLC owned about 0.09% of Verizon Communications worth $178,279,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after purchasing an additional 16,704 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in shares of Verizon Communications by 1.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 21,693 shares of the cell phone carrier's stock worth $868,000 after purchasing an additional 293 shares during the period. Jump Financial LLC boosted its holdings in Verizon Communications by 568.3% during the 4th quarter. Jump Financial LLC now owns 35,273 shares of the cell phone carrier's stock valued at $1,411,000 after acquiring an additional 29,995 shares during the period. Evergreen Capital Management LLC boosted its holdings in Verizon Communications by 9.4% during the 4th quarter. Evergreen Capital Management LLC now owns 26,642 shares of the cell phone carrier's stock valued at $1,065,000 after acquiring an additional 2,300 shares during the period. Finally, NewEdge Advisors LLC raised its position in Verizon Communications by 6.1% during the 4th quarter. NewEdge Advisors LLC now owns 590,590 shares of the cell phone carrier's stock valued at $23,618,000 after purchasing an additional 33,845 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.4%

Shares of NYSE:VZ opened at $43.52 on Friday. The company has a market capitalization of $183.47 billion, a PE ratio of 10.14, a PEG ratio of 3.37 and a beta of 0.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a 50 day moving average price of $42.67 and a two-hundred day moving average price of $42.91.

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

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Analysts Set New Price Targets

Several research analysts have recently commented on VZ shares. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.35.

About Verizon Communications

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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