2 weeks Ago By Defense World Staff
B. Riley Wealth Advisors Inc. reduced its holdings in shares of Verizon Communications Inc.
( NYSE:VZ – Free Report ) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 271,086 shares of the cell phone carrier’s stock after selling 39,689 shares during the quarter.
B. Riley Wealth Advisors Inc.’s holdings in Verizon Communications were worth $11,180,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications in the 1st quarter valued at $25,000.
Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications in the fourth quarter valued at about $29,000. Mizuho Securities Co. Ltd.
bought a new position in Verizon Communications during the second quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications in the 2nd quarter worth about $33,000. Finally, Pittenger & Anderson Inc.
boosted its holdings in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc.
now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.
Analysts Set New Price Targets A number of equities analysts have commented on VZ shares. JPMorgan Chase & Co. lowered their price objective on Verizon Communications from $46.
00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen raised their price target on Verizon Communications from $48.
00 to $51.00 and gave the stock 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 report on Monday, July 1st.
They set a “buy” rating and a $50.00 price objective for the company. Scotiabank raised their target price on shares of Verizon Communications from $45.
50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price target on shares of Verizon Communications from $42.
00 to $46.00 and gave the stock a “sector perform” rating in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company.
According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.09.
Verizon Communications Stock Performance Shares of Verizon Communications stock opened at $44.89 on Monday. The company’s fifty day moving average is $41.
76 and its 200 day moving average is $40.95. 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 stock has a market cap of $188.95 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 4.
03 and a beta of 0.42. Verizon Communications Inc.
has a twelve month low of $30.14 and a twelve month high of $45.05.
Verizon Communications ( NYSE:VZ – Get Free Report ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.
15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.
10%. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.
05 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share.
Verizon Communications’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts forecast that Verizon Communications Inc.
will post 4.58 EPS for the current year. Verizon Communications Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st.
Investors of record on Thursday, October 10th will be given a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.
67. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.
71 annualized dividend and a dividend yield of 6.04%. Verizon Communications’s dividend payout ratio is presently 101.
12%. 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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