Koss Olinger Consulting LLC Sells 1,674 Shares of Verizon Communications Inc. $VZ

Koss Olinger Consulting LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,946 shares of the cell phone carrier’s stock after selling 1,674 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Verizon Communications were worth $820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bulwark Capital Corp acquired a new position in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Advantage Trust Co lifted its holdings in Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 500 shares in the last quarter. 1 North Wealth Services LLC acquired a new position in Verizon Communications during the 1st quarter worth $29,000. Accent Capital Management LLC acquired a new position in Verizon Communications during the 1st quarter worth $30,000. Finally, Global Trust Asset Management LLC lifted its holdings in Verizon Communications by 222.2% during the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 500 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

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

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 64.34%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VZ shares. Royal Bank Of Canada upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Scotiabank upped their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. BNP Paribas Exane downgraded Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Tuesday, October 21st. Finally, Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

About Verizon Communications

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).