Tokio Marine Asset Management Co. Ltd. Grows Position in Verizon Communications Inc. (NYSE:VZ)

Key Points

• Tokio Marine Asset Management increased its stake in Verizon Communications by 5.3%, acquiring an additional 6,273 shares, bringing its total holdings to 125,381 shares valued at approximately $5.69 million.
• Institutional investors collectively own 62.06% of Verizon's stock, with several firms making significant adjustments to their positions during the first quarter.
• Verizon recently reported $1.22 earnings per share for the quarter, beating estimates, with revenues exceeding expectations at $34.50 billion, up 5.2% from the previous year.

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,381 shares of the cell phone carrier's stock after acquiring an additional 6,273 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Verizon Communications were worth $5,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. boosted its holdings in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $26,000. Cherry Tree Wealth Management LLC boosted its stake in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of Verizon Communications in the 1st quarter worth approximately $30,000. Finally, EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications in the first quarter valued at approximately $32,000. Institutional investors own 62.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on VZ. Royal Bank Of Canada lifted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Scotiabank raised their price objective on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.35.

Verizon Communications Stock Performance

Verizon Communications stock opened at $43.25 on Wednesday. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two 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 stock has a market cap of $182.36 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 3.33 and a beta of 0.36. The firm's fifty day moving average price is $42.66 and its 200-day moving average price is $42.88.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%. The firm had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company's revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal 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 paid a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.3%. Verizon Communications's dividend payout ratio is currently 63.17%.

Verizon Communications 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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