TriaGen Wealth Management LLC Purchases 375 Shares of Verizon Communications Inc. (NYSE:VZ)

TriaGen Wealth Management LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,679 shares of the cell phone carrier’s stock after purchasing an additional 375 shares during the period. TriaGen Wealth Management LLC’s holdings in Verizon Communications were worth $480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Swedbank AB bought a new stake in Verizon Communications during the first quarter worth about $250,312,000. DekaBank Deutsche Girozentrale raised its holdings in Verizon Communications by 112.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock worth $273,507,000 after acquiring an additional 3,481,936 shares in the last quarter. Bank of Montreal Can raised its stake in Verizon Communications by 18.6% in the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock valued at $536,791,000 after buying an additional 2,040,247 shares during the period. Capital Wealth Planning LLC raised its stake in Verizon Communications by 37.9% in the second quarter. Capital Wealth Planning LLC now owns 6,973,838 shares of the cell phone carrier’s stock valued at $287,601,000 after buying an additional 1,916,951 shares during the period. Finally, Marshall Wace LLP raised its stake in Verizon Communications by 153.8% in the second quarter. Marshall Wace LLP now owns 2,806,221 shares of the cell phone carrier’s stock valued at $115,729,000 after buying an additional 1,700,619 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ traded up $0.14 during trading hours on Friday, reaching $43.99. 13,058,370 shares of the company were exchanged, compared to its average volume of 18,416,428. The company has a market capitalization of $185.17 billion, a P/E ratio of 16.41, a P/E/G ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 1-year low of $31.26 and a 1-year high of $45.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The business has a 50 day moving average of $42.94 and a 200 day moving average of $41.29.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. Research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.17%. Verizon Communications’s dividend payout ratio is presently 101.12%.

Analyst Ratings Changes

Several analysts have issued reports on VZ shares. KeyCorp dropped their price objective on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. Citigroup upped their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Bank of America upped their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. The Goldman Sachs Group started coverage on Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Scotiabank upped their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $46.31.

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).