Verizon Communications Inc. $VZ Stock Holdings Decreased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. reduced its position in Verizon Communications Inc. (NYSE:VZ) by 86.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,640 shares of the cell phone carrier’s stock after selling 92,726 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Verizon Communications were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock valued at $16,700,279,000 after buying an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Verizon Communications by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock worth $4,983,225,000 after acquiring an additional 1,172,175 shares during the last quarter. GQG Partners LLC boosted its stake in Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares during the period. Northern Trust Corp boosted its stake in Verizon Communications by 1.0% in the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock valued at $2,062,750,000 after acquiring an additional 431,789 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Verizon Communications by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after purchasing an additional 3,100,342 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group started coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. BNP Paribas cut shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company upped their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.41.

Verizon Communications Stock Up 1.1%

VZ stock opened at $38.83 on Friday. The firm’s 50-day moving average is $42.84 and its two-hundred day moving average is $42.97. The company has a market capitalization of $163.70 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.37. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 7.1%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s payout ratio is currently 64.34%.

Verizon Communications Profile

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).