Rowlandmiller & PARTNERS.ADV Sells 845 Shares of Verizon Communications Inc. (NYSE:VZ)

by · The Markets Daily

Rowlandmiller & PARTNERS.ADV decreased its stake in Verizon Communications Inc. (NYSE:VZ – Free Report) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 168,465 shares of the cell phone carrier’s stock after selling 845 shares during the period. Verizon Communications accounts for about 1.5% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its 19th biggest position. Rowlandmiller & PARTNERS.ADV’s holdings in Verizon Communications were worth $7,566,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications in the first quarter worth about $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Verizon Communications in the second quarter valued at approximately $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications during the second quarter valued at approximately $33,000. Accordant Advisory Group Inc grew its stake in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its position in Verizon Communications by 50.4% in the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 2.3 %

NYSE VZ opened at $41.86 on Friday. Verizon Communications Inc. has a one year low of $33.34 and a one year high of $45.36. The firm has a 50 day simple moving average of $43.05 and a 200-day simple moving average of $41.29. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The firm has a market cap of $176.18 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ – Get Free Report) last announced its 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 for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.48%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is currently 101.12%.

Analyst Ratings Changes

VZ has been the subject of several analyst reports. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Tigress Financial increased their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Bank of America raised their target price on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company 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’s stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.37.

Get Our Latest Research Report on VZ

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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