Swedbank AB Buys 39,403 Shares of Verizon Communications Inc. (NYSE:VZ)

Swedbank AB increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,174,541 shares of the cell phone carrier’s stock after buying an additional 39,403 shares during the quarter. Swedbank AB owned 0.12% of Verizon Communications worth $232,389,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Alliance Wealth Advisors LLC lifted its position in shares of Verizon Communications by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock valued at $732,000 after acquiring an additional 241 shares in the last quarter. Fermata Advisors LLC lifted its position in shares of Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after acquiring an additional 243 shares in the last quarter. Semmax Financial Advisors Inc. lifted its position in shares of Verizon Communications by 0.4% in the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock valued at $2,240,000 after acquiring an additional 246 shares in the last quarter. Sawgrass Asset Management LLC lifted its position in shares of Verizon Communications by 1.2% in the second quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock valued at $889,000 after acquiring an additional 250 shares in the last quarter. Finally, Wynn Capital LLC lifted its position in shares of Verizon Communications by 4.4% in the third quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock valued at $267,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.3 %

Shares of VZ traded up $0.57 during mid-day trading on Tuesday, reaching $43.76. 7,572,227 shares of the company’s stock traded hands, compared to its average volume of 18,488,406. Verizon Communications Inc. has a 12 month low of $30.62 and a 12 month high of $45.36. The stock has a market cap of $184.20 billion, a P/E ratio of 16.38, a P/E/G ratio of 4.02 and a beta of 0.42. The stock’s 50-day moving average is $42.66 and its two-hundred day moving average is $41.23. 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 (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Verizon Communications’s revenue was up .6% compared to the same quarter last year. Research analysts forecast that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.20%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is 101.12%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research analyst reports. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. TD Cowen boosted their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased 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. Citigroup boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Raymond James boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $46.26.

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).