Catalyst Capital Advisors LLC Has $668,000 Holdings in Verizon Communications Inc. $VZ

Catalyst Capital Advisors LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,442 shares of the cell phone carrier’s stock after purchasing an additional 1,403 shares during the period. Catalyst Capital Advisors LLC’s holdings in Verizon Communications were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in Verizon Communications in the 2nd quarter worth $25,000. Advantage Trust Co boosted its stake in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 500 shares during the period. 1 North Wealth Services LLC acquired a new position in Verizon Communications in the 1st quarter worth $29,000. Accent Capital Management LLC acquired a new position in Verizon Communications in the 1st quarter worth $30,000. Finally, Global Trust Asset Management LLC boosted its stake in Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 500 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 1.1%

Shares of VZ stock opened at $38.83 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm’s 50-day moving average is $42.84 and its 200-day moving average is $42.96. The stock has a market cap of $163.70 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.89 and a beta of 0.37. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 64.34%.

Analyst Upgrades and Downgrades

Several brokerages have commented on VZ. BNP Paribas Exane cut shares of Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Weiss Ratings cut shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Royal Bank Of Canada boosted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.41.

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).