Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Radnor Capital Management LLC

by · The Markets Daily

Radnor Capital Management LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 19.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,148 shares of the cell phone carrier’s stock after buying an additional 10,734 shares during the quarter. Radnor Capital Management LLC’s holdings in Verizon Communications were worth $3,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications during the first quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Verizon Communications during the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $33,000. Accordant Advisory Group Inc raised its holdings in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the period. Finally, Denver PWM LLC acquired a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $46,000. 62.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VZ has been the topic of several research analyst reports. Citigroup boosted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Raymond James increased their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Finally, KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.37.

Check Out Our Latest Research Report on Verizon Communications

Verizon Communications Stock Performance

Shares of VZ stock opened at $41.26 on Wednesday. The firm has a market capitalization of $173.69 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The business has a fifty day moving average of $43.15 and a 200 day moving average of $41.37. Verizon Communications Inc. has a 1 year low of $35.40 and a 1 year high of $45.36.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.678 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

About Verizon Communications

(Free Report)

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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