Adamsbrown Wealth Consultants LLC Acquires 268 Shares of Verizon Communications Inc. (NYSE:VZ)

Adamsbrown Wealth Consultants LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.0% during the third quarter, Holdings Channel reports. The fund 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VZ. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications in the first quarter valued at about $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new stake in shares of Verizon Communications during the second quarter worth approximately $33,000. Pittenger & Anderson Inc. lifted its holdings in Verizon Communications by 50.4% in the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares during the period. Finally, Northwest Bank & Trust Co bought a new position in Verizon Communications in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Tigress Financial upped their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Raymond James raised their target price 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 upped their price target on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. decreased their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $46.26.

Verizon Communications Stock Up 0.0 %

Shares of NYSE:VZ traded up $0.01 during midday trading on Monday, reaching $43.01. The company had a trading volume of 732,451 shares, compared to its average volume of 18,497,121. Verizon Communications Inc. has a 1-year low of $30.62 and a 1-year high of $45.36. The stock has a market cap of $181.04 billion, a PE ratio of 16.04, a P/E/G ratio of 4.02 and a beta of 0.42. 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’s 50 day moving average price is $42.59 and its 200 day moving average price is $41.22.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. 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 6.31%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 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).