Wagner Wealth Management LLC Has $3.10 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Wagner Wealth Management LLC boosted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 1.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 69,109 shares of the cell phone carrier’s stock after buying an additional 1,110 shares during the period. Verizon Communications makes up 0.8% of Wagner Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Wagner Wealth Management LLC’s holdings in Verizon Communications were worth $3,104,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sunflower Bank N.A. boosted its position in Verizon Communications by 3.8% during the third quarter. Sunflower Bank N.A. now owns 7,593 shares of the cell phone carrier’s stock valued at $341,000 after acquiring an additional 278 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Verizon Communications by 3.4% during the 3rd quarter. Sound Income Strategies LLC now owns 15,229 shares of the cell phone carrier’s stock valued at $684,000 after buying an additional 499 shares in the last quarter. Douglas Lane & Associates LLC grew its holdings in Verizon Communications by 3.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 20,348 shares of the cell phone carrier’s stock valued at $914,000 after buying an additional 628 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Verizon Communications by 9.6% in the third quarter. CVA Family Office LLC now owns 11,687 shares of the cell phone carrier’s stock worth $525,000 after purchasing an additional 1,025 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in shares of Verizon Communications by 0.9% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 320,507 shares of the cell phone carrier’s stock valued at $14,394,000 after acquiring an additional 2,885 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.1 %

VZ traded up $0.05 during trading hours on Friday, hitting $43.00. 10,658,662 shares of the company’s stock were exchanged, compared to its average volume of 18,587,283. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $42.59 and a 200 day moving average of $41.23. The firm has a market cap of $181.00 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 12-month low of $30.62 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZGet Free Report) last posted 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. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the prior year, the business earned $1.21 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio is currently 101.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VZ. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Tigress Financial lifted their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Raymond James increased their price objective on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.26.

View Our Latest Analysis on Verizon Communications

About Verizon Communications

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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