Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lifted by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,860 shares of the cell phone carrier’s stock after purchasing an additional 2,696 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Verizon Communications were worth $1,790,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Verizon Communications by 3.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 755,942 shares of the cell phone carrier’s stock valued at $33,949,000 after purchasing an additional 28,529 shares during the period. Heathbridge Capital Management Ltd. grew its stake in shares of Verizon Communications by 13.6% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 489,400 shares of the cell phone carrier’s stock worth $21,979,000 after acquiring an additional 58,700 shares in the last quarter. Bar Harbor Wealth Management grew its stake in shares of Verizon Communications by 0.6% in the third quarter. Bar Harbor Wealth Management now owns 158,206 shares of the cell phone carrier’s stock valued at $7,105,000 after buying an additional 963 shares in the last quarter. Ballast Inc. bought a new position in shares of Verizon Communications in the third quarter valued at $201,000. Finally, Marshall Financial Group LLC lifted its holdings in Verizon Communications by 1.4% during the 3rd quarter. Marshall Financial Group LLC now owns 71,154 shares of the cell phone carrier’s stock valued at $3,196,000 after purchasing an additional 979 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $43.85 on Friday. 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 company has a market cap of $184.58 billion, a P/E ratio of 16.36, a PEG ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 52 week low of $30.99 and a 52 week high of $45.36. The company has a 50-day moving average price of $42.87 and a 200 day moving average price of $41.28.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results 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 return on equity of 20.10% and a net margin of 8.38%. The company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the previous year, the firm posted $1.21 EPS. Verizon Communications’s revenue was up .6% on a year-over-year basis. Research analysts predict that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid 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 yield of 6.18%. Verizon Communications’s dividend payout ratio is 101.12%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. TD Cowen increased their price target on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their target price on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Finally, Raymond James raised their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

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).