Bogart Wealth LLC Purchases 22,830 Shares of Verizon Communications Inc. (NYSE:VZ)

Bogart Wealth LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 22.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,332 shares of the cell phone carrier’s stock after purchasing an additional 22,830 shares during the quarter. Verizon Communications makes up about 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 18th largest position. Bogart Wealth LLC’s holdings in Verizon Communications were worth $6,715,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Lion Street Advisors LLC bought a new position in Verizon Communications during the 2nd quarter worth approximately $25,000. Anfield Capital Management LLC bought a new position in Verizon Communications during the 2nd quarter worth approximately $32,000. Vigilant Capital Management LLC grew its position in Verizon Communications by 313.3% during the 2nd quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 470 shares during the last quarter. Baldrige Asset Management LLC bought a new position in Verizon Communications during the 2nd quarter worth approximately $37,000. Finally, West Financial Advisors LLC grew its position in Verizon Communications by 197.6% during the 3rd quarter. West Financial Advisors LLC now owns 753 shares of the cell phone carrier’s stock worth $41,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.

Several research firms recently issued reports on VZ. Barclays reduced their price target on Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, October 11th. Loop Capital began coverage on Verizon Communications in a report on Monday, September 20th. They issued a “hold” rating and a $57.00 price objective for the company. Cowen increased their price objective on Verizon Communications from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Wells Fargo & Company dropped their price objective on Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a report on Thursday, October 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Verizon Communications in a report on Tuesday, October 19th. They issued a “hold” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Hold” and an average price target of $60.00.

In related news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $54.45, for a total transaction of $84,615.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 4,662 shares of company stock valued at $252,898. 0.10% of the stock is owned by corporate insiders.

VZ opened at $51.80 on Friday. The stock has a market cap of $214.46 billion, a PE ratio of 9.72, a PEG ratio of 3.06 and a beta of 0.43. The company has a quick ratio of 0.92, a current ratio of 0.97 and a debt-to-equity ratio of 1.83. The business has a 50 day moving average of $52.83 and a 200-day moving average of $54.94. Verizon Communications Inc. has a 52 week low of $50.65 and a 52 week high of $61.95.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.05. The company had revenue of $32.90 billion during the quarter, compared to analysts’ expectations of $33.24 billion. Verizon Communications had a return on equity of 29.72% and a net margin of 16.42%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 5.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 8th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Thursday, October 7th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.63. Verizon Communications’s dividend payout ratio (DPR) is 48.03%.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

Featured Article: What are some reasons analysts would give stocks a buy rating?

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.