Paradigm Capital Management LLC NV Increases Position in Verizon Communications Inc. $VZ

by · The Cerbat Gem

Paradigm Capital Management LLC NV grew its stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,452 shares of the cell phone carrier’s stock after purchasing an additional 2,828 shares during the period. Verizon Communications makes up 2.8% of Paradigm Capital Management LLC NV’s investment portfolio, making the stock its 8th largest holding. Paradigm Capital Management LLC NV’s holdings in Verizon Communications were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Sargent Investment Group LLC boosted its stake in Verizon Communications by 3.3% during the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Crescent Sterling Ltd. boosted its stake in Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock worth $1,402,000 after acquiring an additional 235 shares in the last quarter. Providence Capital Advisors LLC boosted its stake in Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after acquiring an additional 240 shares in the last quarter. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC raised its holdings in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on VZ shares. Royal Bank Of Canada lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Bank of America lifted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Tigress Financial lifted their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Morgan Stanley lifted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $47.35.

Read Our Latest Research Report on Verizon Communications

Verizon Communications Stock Up 0.3%

Shares of VZ stock opened at $44.37 on Tuesday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The stock has a market cap of $187.08 billion, a P/E ratio of 10.34, a P/E/G ratio of 3.41 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a 50 day simple moving average of $42.69 and a two-hundred day simple moving average of $43.01.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications’s dividend payout ratio is currently 63.17%.

Verizon Communications Company Profile

(Free Report)

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).

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