Verizon Communications Inc. (NYSE:VZ) Shares Sold by BCS Wealth Management

BCS Wealth Management lessened its position in Verizon Communications Inc. (NYSE:VZ) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,846 shares of the cell phone carrier’s stock after selling 295 shares during the period. BCS Wealth Management’s holdings in Verizon Communications were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications in the 1st quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the second quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications during the second quarter worth about $33,000. Pittenger & Anderson Inc. lifted its stake in shares of Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 296 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Verizon Communications by 2,159.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock worth $42,000 after purchasing an additional 950 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.1 %

Shares of Verizon Communications stock opened at $43.85 on Friday. The business has a fifty day simple moving average of $42.87 and a 200-day simple moving average of $41.28. Verizon Communications Inc. has a fifty-two week low of $30.99 and a fifty-two week high of $45.36. The firm has a market cap of $184.58 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

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

Verizon Communications Increases Dividend

The business also recently declared 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. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.18%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research reports. Citigroup raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. KeyCorp reduced their price target on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, September 6th. Bank of America lifted their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. TD Cowen lifted their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

Verizon Communications Company 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).