Two Sigma Advisers LP Acquires 994,400 Shares of Verizon Communications Inc. (NYSE:VZ)

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Two Sigma Advisers LP grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,169,963 shares of the cell phone carrier’s stock after acquiring an additional 994,400 shares during the quarter. Verizon Communications comprises 1.0% of Two Sigma Advisers LP’s investment portfolio, making the stock its 15th largest position. Two Sigma Advisers LP owned about 0.15% of Verizon Communications worth $340,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $34,000. HighMark Wealth Management LLC boosted its position in shares of Verizon Communications by 52.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after acquiring an additional 270 shares during the last quarter. Evolution Wealth Advisors LLC boosted its position in shares of Verizon Communications by 166.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock valued at $44,000 after acquiring an additional 500 shares during the last quarter. Finally, JJJ Advisors Inc. boosted its position in shares of Verizon Communications by 192.9% during the 2nd quarter. JJJ Advisors Inc. now owns 1,025 shares of the cell phone carrier’s stock valued at $57,000 after acquiring an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 64.85% of the company’s stock.

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

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.6275 per share. The ex-dividend date of this dividend is Thursday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a dividend yield of 4.16%. Verizon Communications’s payout ratio is 51.14%.

A number of equities analysts recently weighed in on the company. Argus raised Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, September 8th. Royal Bank of Canada reissued a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a report on Wednesday, September 9th. Credit Suisse Group reissued a “hold” rating and set a $61.00 price objective on shares of Verizon Communications in a report on Thursday, July 2nd. Scotiabank raised 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. Finally, Moffett Nathanson reissued a “hold” rating and set a $62.00 price objective on shares of Verizon Communications in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.27.

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.

Further Reading: Asset Allocation

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

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