Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Smith Chas P & Associates PA Cpas

by · The Markets Daily

Smith Chas P & Associates PA Cpas lifted its position in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,922 shares of the cell phone carrier’s stock after acquiring an additional 754 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Verizon Communications were worth $985,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sierra Summit Advisors LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $221,000. Syon Capital LLC bought a new stake in Verizon Communications during the fourth quarter worth approximately $368,000. Scarborough Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter worth approximately $136,000. Northwest Bank & Trust Co bought a new position in Verizon Communications during the 4th quarter valued at $41,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Verizon Communications during the 4th quarter valued at $255,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.1 %

Shares of VZ stock opened at $43.00 on Monday. Verizon Communications Inc. has a 12-month low of $30.62 and a 12-month high of $45.36. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $42.59 and a two-hundred day moving average price of $41.22. The firm has a market cap of $181.00 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.21 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is 101.12%.

Analyst Ratings Changes

VZ has been the topic of several analyst reports. Tigress Financial lifted their target price 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. Bank of America boosted their target price 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. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective for the company. TD Cowen upped their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

View Our Latest Stock Analysis on Verizon Communications

Verizon Communications Profile

(Free Report)

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).

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