Verizon Communications Inc. (NYSE:VZ) Stake Boosted by Adamsbrown Wealth Consultants LLC

Adamsbrown Wealth Consultants LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,007 shares of the cell phone carrier’s stock after acquiring an additional 268 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Verizon Communications were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VZ. Sierra Summit Advisors LLC bought a new position in Verizon Communications during the fourth quarter valued at about $221,000. Syon Capital LLC bought a new position in shares of Verizon Communications in the 4th quarter valued at approximately $368,000. Scarborough Advisors LLC acquired a new stake in Verizon Communications in the 4th quarter worth approximately $136,000. Northwest Bank & Trust Co bought a new stake in Verizon Communications during the fourth quarter worth approximately $41,000. Finally, Richardson Financial Services Inc. acquired a new position in Verizon Communications during the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the subject of several recent analyst reports. Tigress Financial upped their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target on the stock. KeyCorp cut their price objective on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Citigroup raised their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada upped their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.26.

Verizon Communications Price Performance

VZ traded up $0.01 during midday trading on Monday, reaching $43.01. 732,451 shares of the company’s stock were exchanged, compared to its average volume of 18,497,121. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $42.59 and a two-hundred day simple moving average of $41.22. The firm has a market capitalization of $181.04 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a one year low of $30.62 and a one year high of $45.36.

Verizon Communications (NYSE:VZ) last posted its earnings results 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 return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter last year, the company earned $1.21 EPS. Verizon Communications’s revenue was up .6% on a year-over-year basis. As a group, 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. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This is a positive change 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 dividend yield of 6.31%. Verizon Communications’s dividend payout ratio (DPR) is presently 101.12%.

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).