Impact Partnership Wealth LLC Has $1.18 Million Stock Position in Verizon Communications Inc. (NYSE:VZ)

Impact Partnership Wealth LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,208 shares of the cell phone carrier’s stock after selling 612 shares during the period. Impact Partnership Wealth LLC’s holdings in Verizon Communications were worth $1,177,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of VZ. Greystone Financial Group LLC grew its position in Verizon Communications by 2.5% in the third quarter. Greystone Financial Group LLC now owns 151,477 shares of the cell phone carrier’s stock valued at $6,803,000 after acquiring an additional 3,684 shares during the last quarter. Keene & Associates Inc. boosted its stake in shares of Verizon Communications by 0.6% during the third quarter. Keene & Associates Inc. now owns 83,993 shares of the cell phone carrier’s stock valued at $3,772,000 after purchasing an additional 495 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Verizon Communications by 10.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 89,181 shares of the cell phone carrier’s stock valued at $4,005,000 after purchasing an additional 8,631 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Verizon Communications during the third quarter valued at about $1,370,000. Finally, Romano Brothers AND Company boosted its stake in shares of Verizon Communications by 2.8% during the third quarter. Romano Brothers AND Company now owns 127,320 shares of the cell phone carrier’s stock valued at $5,718,000 after purchasing an additional 3,425 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. UBS Group lifted their price objective on Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday. Tigress Financial lifted their price objective on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Scotiabank lifted their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Trading Down 2.3 %

VZ traded down $0.99 during trading on Thursday, hitting $41.87. The company’s stock had a trading volume of 1,760,173 shares, compared to its average volume of 18,497,025. The firm has a market capitalization of $176.24 billion, a P/E ratio of 16.00, a PEG ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a twelve month low of $33.34 and a twelve month high of $45.36. The stock’s fifty day moving average price is $43.05 and its 200-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 (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. The firm had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. Analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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. 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 6.48%. Verizon Communications’s payout ratio is currently 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).