Midwest Trust Co has significantly expanded its investment portfolio by acquiring **576,882 shares** of **Verizon Communications Inc.** during the second quarter of the year. This acquisition, disclosed in a recent Form 13F filing with the **Securities and Exchange Commission**, is valued at approximately **$24.96 million**. This move reflects a broader trend as various hedge funds have adjusted their positions in the telecommunications giant.
Other notable investments include **Bulwark Capital Corp**, which purchased a new stake in Verizon worth about **$25,000** during the same quarter. **Advantage Trust Co** exhibited a remarkable increase in its holdings, with a **549.5%** rise in shares, bringing its total to **591 shares** valued at **$26,000** after acquiring an additional **500 shares**. Additionally, **1 North Wealth Services LLC** and **Accent Capital Management LLC** have also entered new positions in Verizon, valued at **$29,000** and **$30,000** respectively. Overall, institutional investors now own **62.06%** of Verizon’s stock.
Recent Stock Performance and Financial Metrics
On the trading front, shares of Verizon opened at **$40.03** on Friday. The company has demonstrated a solid current ratio of **0.74** and a quick ratio of **0.60**. Its debt-to-equity ratio stands at **1.19**, indicating its leverage level. Over the past year, Verizon’s stock has fluctuated, reaching a twelve-month low of **$37.58** and a high of **$47.35**. The company’s market capitalization is currently **$168.80 billion**, while its price-to-earnings (P/E) ratio is **8.55**. With a **50-day moving average** price of **$41.86** and a **200-day moving average** of **$42.69**, Verizon remains a key player in the telecommunications sector.
In addition to these financial metrics, Verizon recently announced an increase in its quarterly dividend, which was paid on **November 3rd**. Shareholders of record as of **October 10th** received a dividend of **$0.69** per share, up from the previous amount of **$0.68**. This change translates to an annualized dividend of **$2.76** and a dividend yield of **6.9%**. The company’s dividend payout ratio currently stands at **58.97%**.
Market Analysts’ Perspectives
Market analysts have been actively discussing Verizon’s stock, leading to varied ratings and price targets. **Scotiabank** recently raised its price objective from **$50.50** to **$51.00**, maintaining a “sector perform” rating. Conversely, **JPMorgan Chase & Co.** lowered its target from **$49.00** to **$47.00**, assigning a “neutral” rating. **TD Cowen** adjusted its price target down from **$56.00** to **$51.00**, while **Morgan Stanley** increased its target from **$47.00** to **$48.00**, giving it an “equal weight” rating.
In a contrasting view, **BNP Paribas** downgraded Verizon from a “strong-buy” to a “hold” rating. Currently, two equity research analysts have rated Verizon with a “strong buy,” six have issued a “buy” rating, and thirteen have provided a “hold” rating. According to data from **MarketBeat**, the consensus rating is “hold” with a target price of approximately **$47.41**.
Verizon Communications Inc., through its subsidiaries, offers a wide range of communication, technology, information, and entertainment products and services to individual consumers, businesses, and government entities globally. The company operates in two primary segments: the **Verizon Consumer Group** and the **Verizon Business Group**.
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