MQS Management LLC Makes New $536,000 Investment in Verizon Communications Inc. $VZ

MQS Management LLC bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 12,377 shares of the cell phone carrier’s stock, valued at approximately $536,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC lifted its holdings in Verizon Communications by 41.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 124,364 shares of the cell phone carrier’s stock worth $5,381,000 after acquiring an additional 36,548 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in shares of Verizon Communications by 3.6% during the second quarter. Leavell Investment Management Inc. now owns 50,074 shares of the cell phone carrier’s stock worth $2,167,000 after buying an additional 1,759 shares in the last quarter. Brian Low Financial Group LLC bought a new position in shares of Verizon Communications during the second quarter worth about $204,000. AG2R LA Mondiale Gestion D Actifs grew its holdings in shares of Verizon Communications by 0.6% during the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 273,778 shares of the cell phone carrier’s stock worth $11,846,000 after buying an additional 1,508 shares in the last quarter. Finally, Boothe Investment Group Inc. grew its holdings in shares of Verizon Communications by 3.6% during the second quarter. Boothe Investment Group Inc. now owns 26,644 shares of the cell phone carrier’s stock worth $1,153,000 after buying an additional 930 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 1.1%

Verizon Communications stock opened at $38.83 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. 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 stock has a market capitalization of $163.70 billion, a P/E ratio of 9.05, a PEG ratio of 2.93 and a beta of 0.37. The stock has a 50-day simple moving average of $42.84 and a 200 day simple moving average of $42.97.

Verizon Communications Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on VZ shares. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Royal Bank Of Canada increased their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Bank of America upped 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. Finally, BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.41.

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).