Verizon Communications Inc. (NYSE:VZ) Shares Bought by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,994 shares of the cell phone carrier’s stock after acquiring an additional 786 shares during the period. Impact Partnership Wealth LLC’s holdings in Verizon Communications were worth $1,079,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VZ. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verizon Communications by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after acquiring an additional 5,936,009 shares during the period. Geode Capital Management LLC increased its position in Verizon Communications by 2.2% during the third quarter. Geode Capital Management LLC now owns 95,824,245 shares of the cell phone carrier’s stock worth $4,289,054,000 after purchasing an additional 2,081,241 shares during the last quarter. Legal & General Group Plc raised its stake in Verizon Communications by 3.0% during the second quarter. Legal & General Group Plc now owns 38,357,031 shares of the cell phone carrier’s stock worth $1,581,848,000 after purchasing an additional 1,106,887 shares during the period. FMR LLC boosted its holdings in shares of Verizon Communications by 2.0% in the 3rd quarter. FMR LLC now owns 29,074,297 shares of the cell phone carrier’s stock valued at $1,305,727,000 after purchasing an additional 565,842 shares during the last quarter. Finally, Parnassus Investments LLC grew its stake in shares of Verizon Communications by 2.8% during the 3rd quarter. Parnassus Investments LLC now owns 18,161,563 shares of the cell phone carrier’s stock valued at $815,636,000 after buying an additional 502,949 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE VZ opened at $39.17 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The business’s fifty day moving average is $40.93 and its two-hundred day moving average is $41.64. The stock has a market capitalization of $164.89 billion, a P/E ratio of 16.88, a P/E/G ratio of 3.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the previous year, the business earned $1.08 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research reports. TD Cowen raised Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Tigress Financial lifted their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Bank of America increased their target price on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, UBS Group upped their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.54.

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).