Verizon Communications Inc. (NYSE:VZ) Shares Sold by Amplius Wealth Advisors LLC

Amplius Wealth Advisors LLC lowered its holdings in Verizon Communications Inc. (NYSE:VZ) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,784 shares of the cell phone carrier’s stock after selling 259 shares during the period. Amplius Wealth Advisors LLC’s holdings in Verizon Communications were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Kapitalo Investimentos Ltda acquired a new position in shares of Verizon Communications during the fourth quarter valued at $112,000. First Hawaiian Bank boosted its stake in Verizon Communications by 21.4% during the 1st quarter. First Hawaiian Bank now owns 24,005 shares of the cell phone carrier’s stock valued at $1,007,000 after purchasing an additional 4,230 shares during the period. Foster Group Inc. bought a new position in Verizon Communications in the 1st quarter worth about $267,000. MADDEN SECURITIES Corp increased its stake in shares of Verizon Communications by 5.9% in the first quarter. MADDEN SECURITIES Corp now owns 53,378 shares of the cell phone carrier’s stock valued at $2,240,000 after purchasing an additional 2,978 shares during the period. Finally, Signal Advisors Wealth LLC bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $361,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of recent analyst reports. Raymond James increased their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Bank of America lifted their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. TD Cowen increased their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 target price on the stock. Finally, KeyCorp decreased their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $46.26.

Verizon Communications Trading Up 0.4 %

Shares of NYSE VZ opened at $43.90 on Thursday. 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 Inc. has a 12 month low of $30.99 and a 12 month high of $45.36. The company has a market cap of $184.79 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 4.02 and a beta of 0.42. The business has a fifty day simple moving average of $42.81 and a 200-day simple moving average of $41.26.

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

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s payout ratio is 101.12%.

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).