Catalytic Wealth RIA LLC Sells 684 Shares of Verizon Communications Inc. (NYSE:VZ)

Catalytic Wealth RIA LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,328 shares of the cell phone carrier’s stock after selling 684 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Verizon Communications were worth $239,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications in the 1st quarter worth $25,000. Capital Performance Advisors LLP bought a new position in shares of Verizon Communications in the third quarter worth about $31,000. Mizuho Securities Co. Ltd. bought a new position in shares of Verizon Communications in the second quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the second quarter worth about $33,000. Finally, Accordant Advisory Group Inc raised its stake in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on VZ. Royal Bank of Canada lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Scotiabank boosted their price target on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. UBS Group raised their price objective on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Finally, KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Stock Down 0.1 %

Shares of NYSE VZ opened at $40.44 on Tuesday. Verizon Communications Inc. has a 1 year low of $35.41 and a 1 year high of $45.36. The firm has a 50-day simple moving average of $43.11 and a two-hundred day simple moving average of $41.40. The company has a market cap of $170.24 billion, a P/E ratio of 17.43, a PEG ratio of 2.94 and a beta of 0.43. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. Verizon Communications’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Research analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.678 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.71%. Verizon Communications’s dividend payout ratio is presently 116.81%.

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).