Verizon Communications Inc. (NYSE:VZ) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 7,577.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,619 shares of the cell phone carrier’s stock after purchasing an additional 621,418 shares during the quarter. Acadian Asset Management LLC’s holdings in Verizon Communications were worth $25,953,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications in the 1st quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications during the second quarter worth $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications in the second quarter worth $33,000. Finally, Pittenger & Anderson Inc. lifted its holdings in Verizon Communications by 50.4% in the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 296 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $41.15 on Monday. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The firm has a market cap of $173.21 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The company’s 50-day moving average is $40.93 and its two-hundred day moving average is $40.52. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.

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, meeting the consensus estimate of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Research analysts expect that Verizon Communications Inc. will post 4.57 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.59%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is currently 101.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Scotiabank boosted their price target on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Tigress Financial raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, 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. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $45.66.

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).