Appleton Partners Inc. MA Raises Holdings in Verizon Communications Inc. (NYSE:VZ)

Appleton Partners Inc. MA increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 6.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,805 shares of the cell phone carrier’s stock after purchasing an additional 495 shares during the quarter. Appleton Partners Inc. MA’s holdings in Verizon Communications were worth $322,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Criterion Capital Advisors LLC purchased a new stake in Verizon Communications in the 4th quarter valued at $25,000. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. Finally, Vima LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $36,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.3 %

VZ stock traded up $0.12 during mid-day trading on Friday, reaching $40.97. The company had a trading volume of 26,124,914 shares, compared to its average volume of 19,305,414. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The company has a market capitalization of $172.46 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The firm has a fifty day simple moving average of $40.65 and a 200 day simple moving average of $40.50.

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

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were issued a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.49%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VZ. Scotiabank increased their price target on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Tigress Financial increased their price target on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Finally, 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 note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $45.78.

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).