Verizon Communications Inc. (NYSE:VZ) Shares Purchased by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its stake in Verizon by 18.4%, owning a total of 54,103 shares valued at approximately $2.45 million as of the latest SEC filing.
• Verizon reported $1.22 earnings per share for the last quarter, exceeding analysts' expectations, with revenue of $34.50 billion for the period, marking a 5.2% year-on-year increase.
• The company announced a quarterly dividend of $0.6775 per share, representing an annualized yield of 6.3% and a payout ratio of 63.17%.

E Fund Management Co. Ltd. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 18.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,103 shares of the cell phone carrier's stock after purchasing an additional 8,396 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Verizon Communications were worth $2,454,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VZ. Brighton Jones LLC increased its position 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 worth $1,759,000 after purchasing an additional 16,704 shares in the last quarter. Mariner LLC grew its position in Verizon Communications by 27.1% in the fourth quarter. Mariner LLC now owns 1,251,282 shares of the cell phone carrier's stock valued at $50,038,000 after acquiring an additional 266,525 shares in the last quarter. LaSalle St. Investment Advisors LLC grew its position in Verizon Communications by 50.7% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 12,441 shares of the cell phone carrier's stock valued at $497,000 after acquiring an additional 4,184 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in Verizon Communications by 1.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 21,693 shares of the cell phone carrier's stock valued at $868,000 after acquiring an additional 293 shares in the last quarter. Finally, CacheTech Inc. grew its position in Verizon Communications by 25.3% in the fourth quarter. CacheTech Inc. now owns 16,334 shares of the cell phone carrier's stock valued at $653,000 after acquiring an additional 3,296 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of VZ opened at $43.25 on Wednesday. The business's fifty day moving average price is $42.66 and its 200 day moving average price is $42.88. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market capitalization of $182.36 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 3.33 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $33.47 billion. During the same period last year, the business posted $1.15 earnings per share. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business 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. This represents a $2.71 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analyst Ratings Changes

VZ has been the subject of several recent research reports. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Tigress Financial increased their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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