Capital Advisors Inc. OK Purchases 13,449 Shares of Verizon Communications Inc. (NYSE:VZ)

Capital Advisors Inc. OK raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 459,717 shares of the cell phone carrier’s stock after purchasing an additional 13,449 shares during the quarter. Verizon Communications accounts for about 1.1% of Capital Advisors Inc. OK’s investment portfolio, making the stock its 26th biggest holding. Capital Advisors Inc. OK’s holdings in Verizon Communications were worth $26,585,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA bought a new stake in shares of Verizon Communications in the second quarter worth approximately $27,000. Toth Financial Advisory Corp bought a new stake in shares of Verizon Communications in the second quarter worth approximately $34,000. Laidlaw Wealth Management LLC grew its stake in shares of Verizon Communications by 6,131.5% in the second quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier’s stock worth $36,000 after acquiring an additional 1,935,783 shares during the period. HighMark Wealth Management LLC grew its stake in shares of Verizon Communications by 52.1% in the second quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock worth $43,000 after acquiring an additional 270 shares during the period. Finally, Evolution Wealth Advisors LLC grew its stake in shares of Verizon Communications by 166.7% in the second quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock worth $44,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 64.85% of the company’s stock.

VZ has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of Verizon Communications from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Royal Bank of Canada reissued a “hold” rating and issued a $57.00 price objective on shares of Verizon Communications in a report on Wednesday, September 9th. Moffett Nathanson reissued a “hold” rating and issued a $62.00 price objective on shares of Verizon Communications in a report on Friday, July 24th. Oppenheimer assumed coverage on shares of Verizon Communications in a report on Tuesday. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Scotiabank raised their price objective on shares of Verizon Communications from $63.00 to $64.00 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $62.27.

Shares of VZ stock traded up $0.28 during mid-day trading on Tuesday, hitting $60.60. The company had a trading volume of 9,439,546 shares, compared to its average volume of 17,322,094. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22. The stock’s 50 day moving average price is $58.89 and its 200-day moving average price is $56.46. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.96 and a quick ratio of 0.93. The company has a market capitalization of $249.61 billion, a P/E ratio of 13.15, a P/E/G ratio of 3.67 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.98 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that Verizon Communications Inc. will post 4.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a $0.6275 dividend. This represents a $2.51 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Thursday, October 8th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s payout ratio is 51.14%.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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