Campbell Wealth Management Buys Shares of 5,832 Verizon Communications Inc. (NYSE:VZ)

Campbell Wealth Management purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,832 shares of the cell phone carrier’s stock, valued at approximately $241,000.

A number of other hedge funds also recently modified their holdings of the stock. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications during the first quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in Verizon Communications in the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications in the 2nd quarter valued at approximately $33,000. Finally, Vima LLC bought a new stake in Verizon Communications during the 4th quarter valued at $36,000. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. TD Cowen upped 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. KeyCorp cut their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a report on Monday. Finally, Scotiabank raised their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $45.66.

Verizon Communications Price Performance

VZ opened at $43.75 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $184.15 billion, a P/E ratio of 16.32, a PEG ratio of 3.75 and a beta of 0.42. The stock has a 50-day moving average price of $41.05 and a 200-day moving average price of $40.58. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.82.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Equities analysts predict that Verizon Communications Inc. will post 4.57 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a yield of 6.20%. Verizon Communications’s payout ratio is currently 101.12%.

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).