Armistice Capital LLC Invests $220,000 in Verizon Communications Inc. (NYSE:VZ)

Armistice Capital LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,825 shares of the cell phone carrier’s stock, valued at approximately $220,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Verizon Communications by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 351,625,025 shares of the cell phone carrier’s stock worth $11,396,167,000 after acquiring an additional 930,367 shares during the period. Norges Bank acquired a new position in Verizon Communications in the fourth quarter valued at about $1,882,164,000. Northern Trust Corp lifted its position in Verizon Communications by 4.7% during the third quarter. Northern Trust Corp now owns 44,621,839 shares of the cell phone carrier’s stock worth $1,446,194,000 after purchasing an additional 2,015,139 shares during the period. FMR LLC increased its holdings in Verizon Communications by 17.0% in the 3rd quarter. FMR LLC now owns 28,400,326 shares of the cell phone carrier’s stock valued at $920,455,000 after buying an additional 4,134,150 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Verizon Communications by 17.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,261,791 shares of the cell phone carrier’s stock worth $300,175,000 after acquiring an additional 1,385,957 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.5 %

Shares of VZ stock traded down $0.19 on Wednesday, hitting $41.37. The company had a trading volume of 4,241,072 shares, compared to its average volume of 19,114,205. The stock’s 50-day moving average is $40.31 and its two-hundred day moving average is $39.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market cap of $174.14 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.97 and a beta of 0.42. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $43.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.6 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 6.43%. Verizon Communications’s payout ratio is currently 99.25%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Tigress Financial boosted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Wells Fargo & Company reduced their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada boosted their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.36.

View Our Latest Report on VZ

Verizon Communications 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).

See Also

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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