Verizon Communications Inc. (NYSE:VZ) Stock Holdings Boosted by Mission Wealth Management LP

Mission Wealth Management LP raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,531 shares of the cell phone carrier’s stock after purchasing an additional 310 shares during the quarter. Mission Wealth Management LP’s holdings in Verizon Communications were worth $1,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. United Bank grew its position in shares of Verizon Communications by 0.7% during the 2nd quarter. United Bank now owns 24,535 shares of the cell phone carrier’s stock worth $1,353,000 after purchasing an additional 166 shares in the last quarter. Acropolis Investment Management LLC boosted its position in shares of Verizon Communications by 0.7% during the 3rd quarter. Acropolis Investment Management LLC now owns 23,576 shares of the cell phone carrier’s stock worth $1,403,000 after acquiring an additional 171 shares in the last quarter. Keebeck Wealth Management LLC boosted its position in shares of Verizon Communications by 4.6% during the 2nd quarter. Keebeck Wealth Management LLC now owns 4,019 shares of the cell phone carrier’s stock worth $221,000 after acquiring an additional 175 shares in the last quarter. Strategy Asset Managers LLC boosted its position in shares of Verizon Communications by 0.3% during the 2nd quarter. Strategy Asset Managers LLC now owns 62,074 shares of the cell phone carrier’s stock worth $3,423,000 after acquiring an additional 176 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Verizon Communications by 4.0% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,709 shares of the cell phone carrier’s stock worth $260,000 after acquiring an additional 180 shares in the last quarter. 64.85% of the stock is owned by hedge funds and other institutional investors.

VZ has been the topic of several analyst reports. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, August 11th. Credit Suisse Group reiterated a “hold” rating and set a $61.00 price target on shares of Verizon Communications in a research report on Thursday, July 2nd. Oppenheimer assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They set a “buy” rating and a $70.00 price target on the stock. UBS Group raised their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Raymond James raised their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.24.

VZ stock opened at $58.05 on Friday. The company has a fifty day moving average price of $59.66 and a 200-day moving average price of $57.28. The company has a market capitalization of $240.21 billion, a P/E ratio of 12.59, a PEG ratio of 3.67 and a beta of 0.46. Verizon Communications Inc. has a 52-week low of $48.84 and a 52-week high of $62.22. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The firm had revenue of $30.40 billion during the quarter, compared to the consensus estimate of $29.98 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be paid a dividend of $0.6275 per share. This represents a $2.51 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, October 8th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. Verizon Communications’s dividend payout ratio (DPR) is currently 52.18%.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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

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