Campbell Wealth Management Sells 365 Shares of Verizon Communications Inc. (NYSE:VZ)

Campbell Wealth Management cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,467 shares of the cell phone carrier’s stock after selling 365 shares during the quarter. Campbell Wealth Management’s holdings in Verizon Communications were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gateway Investment Advisers LLC grew its holdings in Verizon Communications by 15.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after acquiring an additional 37,732 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Verizon Communications by 9.7% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after acquiring an additional 17,855 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Verizon Communications by 3.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 102,245 shares of the cell phone carrier’s stock worth $4,592,000 after purchasing an additional 2,953 shares during the period. Meyer Handelman Co. lifted its position in shares of Verizon Communications by 5.9% in the 2nd quarter. Meyer Handelman Co. now owns 973,547 shares of the cell phone carrier’s stock worth $40,149,000 after purchasing an additional 53,929 shares during the period. Finally, Strategic Wealth Partners Ltd. lifted its position in shares of Verizon Communications by 164.4% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 94,339 shares of the cell phone carrier’s stock worth $4,237,000 after purchasing an additional 58,657 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock opened at $41.36 on Friday. The firm has a market capitalization of $174.11 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The firm has a fifty day simple moving average of $43.17 and a two-hundred day simple moving average of $41.34. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a 12 month low of $35.31 and a 12 month high of $45.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. Verizon Communications’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is 116.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VZ. Bank of America boosted their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Tigress Financial boosted their price target on shares of 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 price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. UBS Group boosted their price target on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.37.

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).