Wynn Capital LLC Buys 250 Shares of Verizon Communications Inc. (NYSE:VZ)

Wynn Capital LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,945 shares of the cell phone carrier’s stock after acquiring an additional 250 shares during the period. Wynn Capital LLC’s holdings in Verizon Communications were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the first quarter worth approximately $25,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications in the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $33,000. Vima LLC purchased a new stake in Verizon Communications in the fourth quarter worth about $36,000. Finally, Pittenger & Anderson Inc. lifted its position in Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 296 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. KeyCorp cut their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Finally, Scotiabank upped their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $43.00 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12 month low of $30.62 and a 12 month high of $45.36. The stock has a 50 day moving average of $42.59 and a 200 day moving average of $41.22. The firm has a market cap of $181.01 billion, a PE ratio of 16.10, a PEG ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. Verizon Communications’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.31%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.63%.

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).