Glass Jacobson Investment Advisors llc Decreases Stake in Verizon Communications Inc. $VZ

Glass Jacobson Investment Advisors llc lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 93.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 753 shares of the cell phone carrier’s stock after selling 10,668 shares during the period. Glass Jacobson Investment Advisors llc’s holdings in Verizon Communications were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter worth $25,000. Advantage Trust Co grew its holdings in shares of Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the period. 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the first quarter worth about $29,000. Accent Capital Management LLC purchased a new position in Verizon Communications during the first quarter worth about $30,000. Finally, Global Trust Asset Management LLC boosted its holdings in Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 500 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

VZ stock opened at $38.83 on Monday. The business’s fifty day moving average price is $42.84 and its 200 day moving average price is $42.97. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $163.70 billion, a PE ratio of 9.05, a P/E/G ratio of 2.93 and a beta of 0.37.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is currently 64.34%.

Analyst Ratings Changes

Several analysts have recently commented on VZ shares. BNP Paribas lowered shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

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).