Elevated Capital Advisors LLC Has $1.23 Million Holdings in Verizon Communications Inc. (NYSE:VZ)

Elevated Capital Advisors LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 30,787 shares of the cell phone carrier’s stock after buying an additional 1,812 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Verizon Communications were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Fermata Advisors LLC raised its stake in Verizon Communications by 4.5% during the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after acquiring an additional 243 shares in the last quarter. Austin Private Wealth LLC increased its position in shares of Verizon Communications by 3.0% during the 3rd 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 in the last quarter. Semmax Financial Advisors Inc. lifted its holdings in Verizon Communications by 0.4% during 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 purchasing an additional 246 shares during the last quarter. Cary Street Partners Asset Management LLC boosted its position in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after buying an additional 249 shares in the last quarter. Finally, Wynn Capital LLC grew its stake in Verizon Communications by 4.4% during the third quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock worth $267,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on VZ shares. Bank of America boosted their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Tigress Financial increased their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Citigroup lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Scotiabank raised their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Raymond James raised their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $46.54.

Verizon Communications Trading Up 0.7 %

Verizon Communications stock traded up $0.28 during mid-day trading on Monday, hitting $38.09. 19,698,412 shares of the company’s stock were exchanged, compared to its average volume of 22,945,305. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $45.36. 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 firm has a market capitalization of $160.34 billion, a P/E ratio of 16.42, a PEG ratio of 3.05 and a beta of 0.46. The company’s 50 day simple moving average is $41.29 and its 200-day simple moving average is $41.80.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating 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 return on equity of 20.05% and a net margin of 7.30%. Verizon Communications’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.6775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 7.11%. Verizon Communications’s dividend payout ratio 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).