Crewe Advisors LLC Makes New Investment in Verizon Communications Inc. (NYSE:VZ)

Crewe Advisors LLC purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,502 shares of the cell phone carrier’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of VZ. Norges Bank acquired a new stake in shares of Verizon Communications in the 4th quarter valued at about $1,882,164,000. Capital World Investors increased its position in shares of Verizon Communications by 127.6% in the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after acquiring an additional 12,220,777 shares during the last quarter. Capital Research Global Investors increased its position in shares of Verizon Communications by 92.9% in the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock valued at $851,989,000 after acquiring an additional 10,882,873 shares during the last quarter. Third Point LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $173,325,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Verizon Communications by 419.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after acquiring an additional 4,152,099 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ traded up $0.29 during trading on Thursday, reaching $39.96. 19,739,276 shares of the stock were exchanged, compared to its average volume of 18,961,102. Verizon Communications Inc. has a 12 month low of $30.14 and a 12 month high of $43.42. The firm has a market cap of $168.20 billion, a PE ratio of 14.91, a PEG ratio of 3.54 and a beta of 0.41. The stock has a 50-day moving average price of $40.58 and a 200-day moving average price of $40.43. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

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

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is presently 99.25%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VZ shares. JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Tigress Financial lifted their target price on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Company lowered their target price on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 23rd. Finally, The Goldman Sachs Group started coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.68.

Verizon Communications Company 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).