Executive Wealth Management LLC Has $302,000 Stock Position in Verizon Communications Inc. (NYSE:VZ)

Executive Wealth Management LLC lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,720 shares of the cell phone carrier’s stock after selling 317 shares during the quarter. Executive Wealth Management LLC’s holdings in Verizon Communications were worth $302,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VZ. Fermata Advisors LLC increased its position in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after purchasing an additional 243 shares during the period. Austin Private Wealth LLC increased its position in Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after purchasing an additional 243 shares during the period. Semmax Financial Advisors Inc. increased its position in Verizon Communications by 0.4% in the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock worth $2,240,000 after purchasing an additional 246 shares during the period. Cary Street Partners Asset Management LLC increased its position in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock worth $343,000 after purchasing an additional 249 shares during the period. Finally, Sawgrass Asset Management LLC increased its position in Verizon Communications by 1.2% in the second quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock worth $889,000 after purchasing an additional 250 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.1 %

NYSE:VZ opened at $42.30 on Wednesday. Verizon Communications Inc. has a twelve month low of $36.46 and a twelve month high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $42.70 and a two-hundred day moving average price of $41.83. The company has a market cap of $178.07 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 3.08 and a beta of 0.44.

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

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VZ shares. Tigress Financial boosted 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. Scotiabank boosted their target price on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Citigroup boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Bank of America boosted their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.46.

Verizon Communications Company 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).