Verizon Communications Inc. (NYSE:VZ) Shares Acquired by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,240 shares of the cell phone carrier’s stock after acquiring an additional 997 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Verizon Communications were worth $1,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Swedbank AB purchased a new position in shares of Verizon Communications in the 1st quarter valued at about $250,312,000. International Assets Investment Management LLC raised its holdings in Verizon Communications by 4,520.3% in the third quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock valued at $216,266,000 after acquiring an additional 4,711,309 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Verizon Communications by 112.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock worth $273,507,000 after acquiring an additional 3,481,936 shares during the last quarter. Bank of Montreal Can grew its holdings in Verizon Communications by 18.6% during the 2nd quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock worth $536,791,000 after acquiring an additional 2,040,247 shares in the last quarter. Finally, Capital Wealth Planning LLC increased its position in shares of Verizon Communications by 37.9% in the 2nd quarter. Capital Wealth Planning LLC now owns 6,973,838 shares of the cell phone carrier’s stock valued at $287,601,000 after purchasing an additional 1,916,951 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Up 1.9 %

Shares of Verizon Communications stock opened at $41.65 on Monday. The company’s fifty day moving average is $43.03 and its two-hundred day moving average is $41.45. Verizon Communications Inc. has a 1 year low of $35.93 and a 1 year high of $45.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The company has a market capitalization of $175.33 billion, a P/E ratio of 17.95, a PEG ratio of 3.03 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results 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. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. Analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.678 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.51%. The ex-dividend date was Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is 116.81%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Bank of America upped their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup upped their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, TD Cowen raised their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Nine investment 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 has a consensus rating of “Moderate Buy” and a consensus 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).