Wealth Architects LLC Has $543,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Wealth Architects LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,080 shares of the cell phone carrier’s stock after selling 585 shares during the quarter. Wealth Architects LLC’s holdings in Verizon Communications were worth $543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VZ. Alliance Wealth Advisors LLC boosted its holdings in Verizon Communications by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after acquiring an additional 241 shares during the last quarter. Fermata Advisors LLC lifted its position in shares of Verizon Communications by 4.5% during the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after purchasing an additional 243 shares in the last quarter. Austin Private Wealth LLC boosted its holdings in Verizon Communications by 3.0% during the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after purchasing an additional 243 shares during the last quarter. Semmax Financial Advisors Inc. increased its stake in Verizon Communications by 0.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock valued at $2,240,000 after buying an additional 246 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC lifted its position in shares of Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Tigress Financial upped their target price on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Bank of America increased their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. Finally, Citigroup increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Trading Down 0.2 %

Shares of VZ opened at $41.17 on Thursday. Verizon Communications Inc. has a twelve month low of $35.40 and a twelve month high of $45.36. The stock has a market cap of $173.31 billion, a PE ratio of 17.75, a P/E/G ratio of 3.01 and a beta of 0.43. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The business’s 50-day moving average price is $43.15 and its 200-day moving average price is $41.37.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.22 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.59%. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

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).