Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Field & Main Bank

Field & Main Bank lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,738 shares of the cell phone carrier’s stock after acquiring an additional 1,245 shares during the period. Field & Main Bank’s holdings in Verizon Communications were worth $1,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kerusso Capital Management LLC grew its stake in Verizon Communications by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 71,510 shares of the cell phone carrier’s stock worth $3,212,000 after buying an additional 4,330 shares during the last quarter. Demars Financial Group LLC grew its stake in shares of Verizon Communications by 2.4% in the 3rd quarter. Demars Financial Group LLC now owns 16,350 shares of the cell phone carrier’s stock valued at $734,000 after purchasing an additional 387 shares during the last quarter. Objective Capital Management LLC purchased a new position in shares of Verizon Communications in the 3rd quarter valued at approximately $215,000. Carmel Capital Partners LLC grew its stake in shares of Verizon Communications by 11.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 6,787 shares of the cell phone carrier’s stock valued at $305,000 after purchasing an additional 670 shares during the last quarter. Finally, Bridges Investment Management Inc. grew its stake in shares of Verizon Communications by 8.9% in the 3rd quarter. Bridges Investment Management Inc. now owns 58,003 shares of the cell phone carrier’s stock valued at $2,605,000 after purchasing an additional 4,731 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $40.48 on Friday. The company has a market cap of $170.41 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.99 and a beta of 0.43. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 52 week low of $35.40 and a 52 week high of $45.36. The business has a fifty day simple moving average of $43.11 and a 200-day simple moving average of $41.38.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.70%. Verizon Communications’s dividend payout ratio is presently 116.81%.

Analysts Set New Price Targets

VZ has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. TD Cowen lifted their price target on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Tigress Financial lifted their price target on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Raymond James lifted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

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).