Stewardship Advisors LLC Acquires New Stake in Verizon Communications Inc. (NYSE:VZ)

Stewardship Advisors LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,144 shares of the cell phone carrier’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications in the second quarter valued at about $32,000. MFA Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the second quarter valued at $33,000. Pittenger & Anderson Inc. increased its stake in Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after buying an additional 296 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. lifted its holdings in Verizon Communications by 2,159.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock worth $42,000 after buying an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.7 %

VZ stock traded down $0.32 during midday trading on Monday, reaching $43.67. The company had a trading volume of 10,502,688 shares, compared to its average volume of 18,377,461. The company has a 50 day moving average of $42.94 and a two-hundred day moving average of $41.27. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 1 year low of $31.26 and a 1 year high of $45.36. The company has a market capitalization of $183.82 billion, a P/E ratio of 16.37, a PEG ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last announced its quarterly 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 business 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 firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. On average, 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 firm 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 dividend of $0.678 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.21%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Tigress Financial lifted 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. TD Cowen boosted their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group started coverage on Verizon Communications in a research report on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $46.31.

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).