Redhawk Wealth Advisors Inc. Has $328,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

Redhawk Wealth Advisors Inc. increased its stake in Verizon Communications Inc. (NYSE:VZ) by 19.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,302 shares of the cell phone carrier’s stock after buying an additional 1,194 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Verizon Communications were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Willis Investment Counsel grew its holdings in Verizon Communications by 0.5% during the third quarter. Willis Investment Counsel now owns 679,370 shares of the cell phone carrier’s stock worth $30,511,000 after purchasing an additional 3,177 shares during the period. Wagner Wealth Management LLC boosted its stake in shares of Verizon Communications by 1.6% during the 3rd quarter. Wagner Wealth Management LLC now owns 69,109 shares of the cell phone carrier’s stock worth $3,104,000 after acquiring an additional 1,110 shares during the period. Sunflower Bank N.A. increased its holdings in shares of Verizon Communications by 3.8% during the 3rd quarter. Sunflower Bank N.A. now owns 7,593 shares of the cell phone carrier’s stock worth $341,000 after acquiring an additional 278 shares during the last quarter. Sound Income Strategies LLC raised its stake in Verizon Communications by 3.4% in the 3rd quarter. Sound Income Strategies LLC now owns 15,229 shares of the cell phone carrier’s stock valued at $684,000 after acquiring an additional 499 shares during the period. Finally, Douglas Lane & Associates LLC lifted its holdings in Verizon Communications by 3.2% during the 3rd quarter. Douglas Lane & Associates LLC now owns 20,348 shares of the cell phone carrier’s stock valued at $914,000 after purchasing an additional 628 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VZ has been the topic of several research analyst reports. Bank of America increased their price objective 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. Raymond James boosted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. TD Cowen increased their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Finally, Scotiabank upped their price objective on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.26.

Verizon Communications Trading Up 0.5 %

Shares of Verizon Communications stock opened at $43.23 on Tuesday. The firm has a market cap of $181.97 billion, a PE ratio of 16.13, a P/E/G ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 1 year low of $30.62 and a 1 year high of $45.36. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The stock has a fifty day moving average price of $42.66 and a 200-day moving average price of $41.23.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the previous year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This is an increase 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 6.27%. Verizon Communications’s dividend payout ratio (DPR) is presently 101.12%.

About Verizon Communications

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).