Centennial Wealth Advisory LLC Has $787,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Centennial Wealth Advisory LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,512 shares of the cell phone carrier’s stock after buying an additional 1,353 shares during the period. Centennial Wealth Advisory LLC’s holdings in Verizon Communications were worth $787,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of VZ. Gateway Investment Advisers LLC raised its position in shares of Verizon Communications by 15.4% in the second quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock valued at $11,678,000 after buying an additional 37,732 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Verizon Communications by 9.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock valued at $9,095,000 after acquiring an additional 17,855 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Verizon Communications by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock worth $92,445,000 after purchasing an additional 57,583 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Verizon Communications by 3.0% in the third quarter. Bleakley Financial Group LLC now owns 102,245 shares of the cell phone carrier’s stock worth $4,592,000 after purchasing an additional 2,953 shares during the period. Finally, Meyer Handelman Co. raised its stake in Verizon Communications by 5.9% in the second quarter. Meyer Handelman Co. now owns 973,547 shares of the cell phone carrier’s stock valued at $40,149,000 after purchasing an additional 53,929 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.0 %

Shares of NYSE:VZ traded up $0.01 during mid-day trading on Wednesday, hitting $41.27. The company had a trading volume of 3,816,722 shares, compared to its average volume of 18,484,721. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications Inc. has a one year low of $35.40 and a one year high of $45.36. The firm has a fifty day moving average price of $43.15 and a 200 day moving average price of $41.37. The company has a market capitalization of $173.73 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.01 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period last year, the firm earned $1.22 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts forecast that Verizon Communications Inc. will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.678 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.57%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VZ. Scotiabank raised their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a report on Friday, October 18th. Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Raymond James boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Tigress Financial lifted their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, TD Cowen raised their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.37.

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).