Nvwm LLC Cuts Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Nvwm LLC lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,081 shares of the cell phone carrier’s stock after selling 362 shares during the period. Nvwm LLC’s holdings in Verizon Communications were worth $138,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $25,000. Accordant Advisory Group Inc increased its position in Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Verizon Communications in the 2nd quarter worth $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications in the 2nd quarter worth about $33,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 762.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock valued at $48,000 after purchasing an additional 938 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $41.36 on Monday. The firm’s 50-day moving average price is $43.17 and its 200-day moving average price is $41.36. Verizon Communications Inc. has a 52-week low of $35.31 and a 52-week high of $45.36. The company has a market cap of $174.11 billion, a PE ratio of 17.83, a PEG ratio of 3.06 and a beta of 0.43. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.678 dividend. This represents a $2.71 annualized dividend and a yield of 6.56%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Bank of America raised their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Scotiabank upped their price target on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Royal Bank of Canada raised their price objective 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. Citigroup boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, TD Cowen increased their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.37.

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).