Verizon Communications Inc. (NYSE:VZ) Stock Holdings Lessened by Dakota Wealth Management

Dakota Wealth Management lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 179,067 shares of the cell phone carrier’s stock after selling 5,539 shares during the period. Dakota Wealth Management’s holdings in Verizon Communications were worth $8,042,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications in the 1st quarter valued at $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Verizon Communications during the second quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the second quarter worth about $33,000. Accordant Advisory Group Inc increased its position in shares of Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. raised its holdings in shares of Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after acquiring an additional 296 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

VZ stock opened at $41.86 on Friday. The firm has a 50 day moving average of $43.05 and a two-hundred day moving average of $41.29. Verizon Communications Inc. has a 12 month low of $33.34 and a 12 month high of $45.36. The company has a market capitalization of $176.18 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 4.02 and a beta of 0.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Verizon Communications’s revenue for the quarter was up .9% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued 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 is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.48%. Verizon Communications’s dividend payout ratio is currently 101.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Scotiabank raised their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Bank of America lifted their price target on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday. TD Cowen lifted their target price 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, Raymond James upped their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications 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).