Weaver Capital Management LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,464 shares of the cell phone carrier’s stock, valued at approximately $555,000.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC boosted its stake in shares of Verizon Communications by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after buying an additional 241 shares during the last quarter. Sawgrass Asset Management LLC boosted its stake in shares of Verizon Communications by 1.2% in the 2nd quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after buying an additional 250 shares during the last quarter. Fermata Advisors LLC boosted its stake in shares of Verizon Communications by 5.0% in the 2nd quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock worth $222,000 after buying an additional 254 shares during the last quarter. Private Portfolio Partners LLC boosted its stake in shares of Verizon Communications by 0.9% in the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock worth $1,035,000 after buying an additional 255 shares during the last quarter. Finally, BKM Wealth Management LLC boosted its stake in shares of Verizon Communications by 7.4% in the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock worth $156,000 after buying an additional 257 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
Verizon Communications Trading Up 0.4 %
Shares of NYSE VZ opened at $43.09 on Wednesday. The business’s 50 day moving average is $40.91 and its two-hundred day moving average is $40.51. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. The stock has a market capitalization of $181.38 billion, a P/E ratio of 16.02, a PEG ratio of 3.81 and a beta of 0.41.
Wall Street Analyst Weigh In
VZ has been the topic of several analyst reports. Scotiabank lifted their target price on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. 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, July 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.78.
View Our Latest Analysis on Verizon Communications
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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