Flossbach Von Storch SE Has $15.41 Million Position in Verizon Communications Inc. $VZ

Flossbach Von Storch SE cut its position in Verizon Communications Inc. (NYSE:VZ) by 11.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 356,179 shares of the cell phone carrier’s stock after selling 44,719 shares during the period. Flossbach Von Storch SE’s holdings in Verizon Communications were worth $15,412,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VZ. Bulwark Capital Corp acquired a new stake in Verizon Communications during the 2nd quarter worth approximately $25,000. Advantage Trust Co increased its position in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares during the period. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications during the first quarter valued at $29,000. Accent Capital Management LLC acquired a new position in shares of Verizon Communications during the first quarter worth $30,000. Finally, RMG Wealth Management LLC acquired a new position in shares of Verizon Communications during the second quarter worth $30,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. reduced their price target on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada lowered their price objective on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a research report on Thursday, October 30th. BNP Paribas lowered Verizon Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.41.

Verizon Communications Stock Up 0.5%

Shares of NYSE:VZ opened at $40.03 on Friday. The company has a market capitalization of $168.80 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 3.03 and a beta of 0.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.74 and a quick ratio of 0.60. The business’s 50-day moving average is $41.86 and its 200-day moving average is $42.69. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35.

Verizon Communications (NYSE:VZ) last released its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. The business had revenue of $33.80 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 10th were paid a $0.69 dividend. The ex-dividend date was Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is presently 58.97%.

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).