Lanham O Dell & Company Inc. Takes $208,000 Position in Verizon Communications Inc. (NYSE:VZ)

by · The Markets Daily

Lanham O Dell & Company Inc. acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,638 shares of the cell phone carrier’s stock, valued at approximately $208,000. Verizon Communications comprises approximately 0.1% of Lanham O Dell & Company Inc.’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gateway Investment Advisers LLC lifted its stake in shares of Verizon Communications by 15.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock valued at $11,678,000 after purchasing an additional 37,732 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in Verizon Communications by 9.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after purchasing an additional 17,855 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Verizon Communications by 3.0% in the third quarter. Bleakley Financial Group LLC now owns 102,245 shares of the cell phone carrier’s stock valued at $4,592,000 after buying an additional 2,953 shares during the period. Meyer Handelman Co. boosted its holdings in shares of Verizon Communications by 5.9% during the 2nd quarter. Meyer Handelman Co. now owns 973,547 shares of the cell phone carrier’s stock worth $40,149,000 after buying an additional 53,929 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. grew its position in shares of Verizon Communications by 164.4% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 94,339 shares of the cell phone carrier’s stock worth $4,237,000 after buying an additional 58,657 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Down 5.0 %

NYSE VZ opened at $41.51 on Wednesday. The business’s fifty day moving average is $43.01 and its 200-day moving average is $41.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The stock has a market capitalization of $174.73 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a one year low of $31.26 and a one year high of $45.36.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.53%. Verizon Communications’s dividend payout ratio is presently 101.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. Raymond James raised their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. KeyCorp dropped their price target on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. TD Cowen raised their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Tigress Financial upped their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $46.31.

View Our Latest Stock Analysis 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).

Read More

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Free Report).