TriaGen Wealth Management LLC Has $480,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

TriaGen Wealth Management LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,679 shares of the cell phone carrier’s stock after buying an additional 375 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Verizon Communications were worth $480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications in the 2nd quarter valued at approximately $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications in the 2nd quarter valued at approximately $33,000. Pittenger & Anderson Inc. grew its holdings in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Verizon Communications by 2,159.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock worth $42,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on VZ. JPMorgan Chase & Co. decreased their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. KeyCorp decreased their price objective on Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. TD Cowen lifted their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $46.31.

Verizon Communications Price Performance

VZ traded up $0.14 during trading on Friday, hitting $43.99. The company’s stock had a trading volume of 13,058,370 shares, compared to its average volume of 18,416,428. The firm’s 50 day moving average price is $42.94 and its two-hundred day moving average price is $41.29. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 12 month low of $31.26 and a 12 month high of $45.36. The stock has a market capitalization of $185.17 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $32.80 billion during the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. Sell-side analysts forecast 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 issued a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.17%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s payout ratio is 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).