Demars Financial Group LLC Raises Holdings in Verizon Communications Inc. (NYSE:VZ)

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Demars Financial Group LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 35.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,807 shares of the cell phone carrier’s stock after acquiring an additional 6,534 shares during the period. Verizon Communications accounts for approximately 1.1% of Demars Financial Group LLC’s portfolio, making the stock its 26th biggest position. Demars Financial Group LLC’s holdings in Verizon Communications were worth $1,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of VZ. Advisor Group Holdings Inc. purchased a new stake in Verizon Communications during the 1st quarter worth about $109,968,000. Nordea Investment Management AB increased its holdings in shares of Verizon Communications by 94.9% in the 2nd quarter. Nordea Investment Management AB now owns 20,863,824 shares of the cell phone carrier’s stock valued at $1,135,410,000 after acquiring an additional 10,157,152 shares during the last quarter. Capital International Investors increased its holdings in shares of Verizon Communications by 17.4% in the 1st quarter. Capital International Investors now owns 35,217,774 shares of the cell phone carrier’s stock valued at $1,892,254,000 after acquiring an additional 5,213,722 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Verizon Communications by 1,504.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 4,444,462 shares of the cell phone carrier’s stock valued at $238,801,000 after acquiring an additional 4,167,470 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Verizon Communications by 34.5% in the 1st quarter. APG Asset Management N.V. now owns 15,146,312 shares of the cell phone carrier’s stock valued at $797,614,000 after acquiring an additional 3,886,881 shares during the last quarter. Institutional investors own 64.85% of the company’s stock.

A number of research firms have recently commented on VZ. Scotiabank increased their price objective on Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a report on Monday, July 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $57.00 price objective on shares of Verizon Communications in a report on Wednesday, September 9th. Raymond James upped their target price on Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. UBS Group upped their target price on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Oppenheimer initiated coverage on Verizon Communications in a research report on Tuesday. They issued a “buy” rating and a $70.00 target price for the company. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average target price of $62.27.

Shares of VZ traded down $0.23 during mid-day trading on Wednesday, hitting $60.37. The company’s stock had a trading volume of 12,375,325 shares, compared to its average volume of 17,296,271. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66. The firm has a 50-day simple moving average of $59.04 and a 200 day simple moving average of $56.49. The firm has a market capitalization of $249.81 billion, a P/E ratio of 13.10, a P/E/G ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 1-year low of $48.84 and a 1-year high of $62.22.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. The business had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a $0.6275 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, October 8th. Verizon Communications’s dividend payout ratio (DPR) is presently 51.14%.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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