Accordant Advisory Group Inc Has $35,000 Stake in Verizon Communications Inc. (NYSE:VZ)

Accordant Advisory Group Inc boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 137.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 777 shares of the cell phone carrier’s stock after acquiring an additional 450 shares during the period. Accordant Advisory Group Inc’s holdings in Verizon Communications were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VZ. Koesten Hirschmann & Crabtree INC. acquired a new position in Verizon Communications during the 1st quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications during the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new position in Verizon Communications during the 2nd quarter worth about $33,000. Pittenger & Anderson Inc. lifted its holdings in Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after buying an additional 296 shares during the period. Finally, Valued Wealth Advisors LLC lifted its holdings in Verizon Communications by 123.4% during the 1st quarter. Valued Wealth Advisors LLC now owns 1,070 shares of the cell phone carrier’s stock worth $45,000 after buying an additional 591 shares during the period. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. KeyCorp decreased their target price 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. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company. Bank of America boosted their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Tigress Financial boosted their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $46.31.

Verizon Communications Trading Down 5.0 %

NYSE:VZ opened at $41.51 on Wednesday. The company has a market cap of $174.73 billion, a P/E ratio of 15.49, a P/E/G ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 1 year low of $31.26 and a 1 year high of $45.36. The stock’s fifty day moving average price is $43.01 and its two-hundred day moving average price is $41.28. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.21 earnings per share. As a group, analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.53%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio 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).