TCV Trust & Wealth Management Inc. Has $2.12 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

TCV Trust & Wealth Management Inc. raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,279 shares of the cell phone carrier’s stock after purchasing an additional 544 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in Verizon Communications were worth $2,123,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications in the first quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Verizon Communications during the 2nd quarter valued at $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter worth $33,000. Accordant Advisory Group Inc increased 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 worth $35,000 after purchasing an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James boosted their price target on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Citigroup upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Stock Down 1.1 %

VZ opened at $41.38 on Friday. Verizon Communications Inc. has a fifty-two week low of $33.34 and a fifty-two week high of $45.36. The firm has a market capitalization of $174.18 billion, a P/E ratio of 15.44, a PEG ratio of 4.02 and a beta of 0.42. The company’s 50-day moving average is $43.11 and its 200 day moving average is $41.29. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The firm had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 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 .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. Research analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.678 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.55%. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

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).