SYM FINANCIAL Corp Boosts Holdings in Verizon Communications Inc. $VZ

SYM FINANCIAL Corp raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,331 shares of the cell phone carrier’s stock after buying an additional 410 shares during the quarter. SYM FINANCIAL Corp’s holdings in Verizon Communications were worth $317,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VZ. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the 2nd quarter worth about $25,000. Advantage Trust Co grew its holdings in shares of Verizon Communications by 549.5% during 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 purchased a new stake in shares of Verizon Communications during the 1st quarter worth about $29,000. Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter worth about $30,000. Finally, RMG Wealth Management LLC purchased a new stake in shares of Verizon Communications during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VZ. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings cut Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Bank of America boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. BNP Paribas cut Verizon Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target for the company. in a report on Tuesday, October 21st. Three 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 stock. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $47.41.

Verizon Communications Stock Performance

Shares of VZ opened at $39.25 on Tuesday. The business’s 50 day moving average is $42.73 and its two-hundred day moving average is $42.94. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The firm has a market cap of $165.48 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.93 and a beta of 0.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.0%. 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 dividend payout ratio is currently 64.34%.

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).