GWN Securities Inc. Has $2.16 Million Stake in Verizon Communications Inc. $VZ

GWN Securities Inc. decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 83.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,576 shares of the cell phone carrier’s stock after selling 246,805 shares during the period. GWN Securities Inc.’s holdings in Verizon Communications were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Kestra Investment Management LLC boosted its stake in Verizon Communications by 121.8% in the first quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock worth $8,007,000 after purchasing an additional 96,931 shares in the last quarter. Cadinha & Co. LLC raised its holdings in shares of Verizon Communications by 2,916.8% in the second quarter. Cadinha & Co. LLC now owns 347,716 shares of the cell phone carrier’s stock valued at $15,046,000 after buying an additional 336,190 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Verizon Communications by 11.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,297,469 shares of the cell phone carrier’s stock valued at $309,551,000 after buying an additional 722,559 shares during the last quarter. Element Capital Management LLC bought a new position in shares of Verizon Communications in the first quarter valued at about $2,799,000. Finally, Ritholtz Wealth Management increased its position in Verizon Communications by 23.8% in the 2nd quarter. Ritholtz Wealth Management now owns 205,416 shares of the cell phone carrier’s stock valued at $8,888,000 after acquiring an additional 39,445 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

VZ stock opened at $39.25 on Tuesday. The business’s fifty day moving average is $42.73 and its 200-day moving average is $42.94. 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 $165.48 billion, a P/E ratio of 9.15, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.0%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 64.34%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research analyst reports. Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. 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. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

Verizon Communications Company 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).