V Wealth Advisors LLC Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

V Wealth Advisors LLC grew its position in Verizon Communications Inc. (NYSE:VZGet Rating) by 39.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,615 shares of the cell phone carrier’s stock after acquiring an additional 18,050 shares during the quarter. V Wealth Advisors LLC’s holdings in Verizon Communications were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. BCK Partners Inc. acquired a new position in Verizon Communications during the 1st quarter worth $2,101,000. Axiom Financial Strategies LLC lifted its holdings in shares of Verizon Communications by 8.9% in the first quarter. Axiom Financial Strategies LLC now owns 5,980 shares of the cell phone carrier’s stock valued at $279,000 after buying an additional 487 shares during the period. Ergoteles LLC lifted its holdings in shares of Verizon Communications by 174.0% in the first quarter. Ergoteles LLC now owns 91,776 shares of the cell phone carrier’s stock valued at $4,675,000 after buying an additional 58,283 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Verizon Communications by 10.5% in the first quarter. Mackenzie Financial Corp now owns 1,194,111 shares of the cell phone carrier’s stock valued at $60,828,000 after buying an additional 113,032 shares during the period. Finally, First Western Trust Bank acquired a new stake in shares of Verizon Communications in the first quarter valued at $567,000. 60.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VZ has been the subject of several research analyst reports. Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Thursday, October 6th. UBS Group reduced their target price on Verizon Communications from $47.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, October 24th. Citigroup reduced their target price on Verizon Communications from $48.00 to $39.00 and set a “neutral” rating for the company in a report on Tuesday, October 25th. Morgan Stanley raised Verizon Communications from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $41.00 to $44.00 in a report on Thursday, December 15th. Finally, Barclays reduced their target price on Verizon Communications from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.68.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $40.42 on Wednesday. The business has a 50 day moving average price of $39.09 and a 200 day moving average price of $40.72. Verizon Communications Inc. has a twelve month low of $32.76 and a twelve month high of $55.51. The company has a market cap of $169.76 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.91 and a beta of 0.37. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt-to-equity ratio of 1.50.

Verizon Communications (NYSE:VZGet Rating) last announced its earnings results on Tuesday, January 24th. The cell phone carrier reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. Verizon Communications had a return on equity of 25.80% and a net margin of 14.22%. The firm had revenue of $35.30 billion during the quarter, compared to the consensus estimate of $35.14 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts predict that Verizon Communications Inc. will post 5.18 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.6525 per share. The ex-dividend date of this dividend is Monday, January 9th. This represents a $2.61 annualized dividend and a yield of 6.46%. Verizon Communications’s payout ratio is 56.62%.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

Further Reading

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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