Verizon Communications Inc. $VZ Holdings Raised by Linden Thomas Advisory Services LLC

Key Points

• Linden Thomas Advisory Services LLC increased its stake in Verizon Communications by 41.6% during the second quarter, now holding 124,364 shares valued at $5,381,000.
• Verizon recently announced a quarterly dividend increase from $0.68 to $0.69 per share, representing a 7.1% yield for shareholders.
• Research analysts' ratings on Verizon include a mix of upgrades and downgrades, with a current average rating of "Moderate Buy" and a price target of $47.41.

Linden Thomas Advisory Services LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 41.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,364 shares of the cell phone carrier's stock after buying an additional 36,548 shares during the quarter. Verizon Communications comprises approximately 0.6% of Linden Thomas Advisory Services LLC's holdings, making the stock its 27th largest position. Linden Thomas Advisory Services LLC's holdings in Verizon Communications were worth $5,381,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bulwark Capital Corp bought a new position in Verizon Communications during the 2nd quarter worth $25,000. Advantage Trust Co grew its stake in Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier's stock worth $26,000 after buying an additional 500 shares during the last quarter. 1 North Wealth Services LLC bought a new position in Verizon Communications during the 1st quarter worth $29,000. Accent Capital Management LLC bought a new position in Verizon Communications during the 1st quarter worth $30,000. Finally, Global Trust Asset Management LLC grew its stake in Verizon Communications by 222.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier's stock worth $31,000 after buying an additional 500 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on VZ shares. The Goldman Sachs Group started coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price objective for the company. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. BNP Paribas lowered Verizon Communications from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Royal Bank Of Canada boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings lowered Verizon Communications from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of "Moderate Buy" and an average price target of $47.41.

Verizon Communications Price Performance

VZ stock traded up $0.43 during trading hours on Friday, hitting $38.83. 27,455,275 shares of the stock traded hands, compared to its average volume of 28,833,092. The stock has a 50-day simple moving average of $42.84 and a 200 day simple moving average of $42.96. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a market cap of $163.70 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.89 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is currently 64.34%.

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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