Fjarde AP Fonden Fourth Swedish National Pension Fund Has $50.84 Million Position in Verizon Communications Inc. $VZ

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Verizon Communications Inc. (NYSE:VZ) by 22.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,174,982 shares of the cell phone carrier’s stock after purchasing an additional 212,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Verizon Communications were worth $50,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Bulwark Capital Corp acquired a new stake in Verizon Communications in the 2nd quarter worth approximately $25,000. Advantage Trust Co lifted its holdings in Verizon Communications by 549.5% in 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 last quarter. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter worth approximately $29,000. Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter worth approximately $30,000. Finally, RMG Wealth Management LLC acquired a new stake in Verizon Communications in the 2nd quarter worth approximately $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank Of Canada lifted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. BNP Paribas downgraded Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Verizon Communications Stock Performance

VZ opened at $39.25 on Tuesday. The stock has a market cap of $165.48 billion, a PE ratio of 9.15, a P/E/G ratio of 2.93 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The stock’s 50 day simple moving average is $42.73 and its 200-day simple moving average is $42.94.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 64.34%.

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).