Verizon Communications Inc. (NYSE:VZ) Shares Sold by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,270 shares of the cell phone carrier’s stock after selling 678 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Verizon Communications were worth $147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullinan Associates Inc. increased its holdings in Verizon Communications by 65.7% in the 3rd quarter. Cullinan Associates Inc. now owns 20,550 shares of the cell phone carrier’s stock worth $898,000 after buying an additional 8,150 shares during the period. Blackston Financial Advisory Group LLC increased its stake in shares of Verizon Communications by 4.8% in the third quarter. Blackston Financial Advisory Group LLC now owns 12,043 shares of the cell phone carrier’s stock worth $541,000 after acquiring an additional 552 shares during the period. Ballentine Partners LLC raised its holdings in shares of Verizon Communications by 10.0% during the third quarter. Ballentine Partners LLC now owns 63,297 shares of the cell phone carrier’s stock worth $2,843,000 after purchasing an additional 5,740 shares during the last quarter. Financial Partners Group LLC lifted its position in Verizon Communications by 1.4% during the third quarter. Financial Partners Group LLC now owns 32,586 shares of the cell phone carrier’s stock valued at $1,463,000 after purchasing an additional 449 shares during the period. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in Verizon Communications during the third quarter valued at $898,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

VZ has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. TD Cowen lifted their price target on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank upped their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. UBS Group lifted their target price on shares of Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Bank of America increased their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $41.38 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. Verizon Communications Inc. has a 1 year low of $33.34 and a 1 year high of $45.36. The firm has a market capitalization of $174.18 billion, a PE ratio of 15.44, a P/E/G ratio of 4.02 and a beta of 0.42. The business’s 50 day moving average price is $43.11 and its 200-day moving average price is $41.29.

Verizon Communications (NYSE:VZ) last announced 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 company had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 EPS. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.678 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.55%. Verizon Communications’s payout ratio is presently 101.12%.

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).