M. Kraus & Co Trims Holdings in Verizon Communications Inc. (NYSE:VZ)

M. Kraus & Co cut its stake in Verizon Communications Inc. (NYSE:VZ) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,148 shares of the cell phone carrier’s stock after selling 1,665 shares during the quarter. M. Kraus & Co’s holdings in Verizon Communications were worth $2,746,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications during the first quarter worth about $25,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications during the second quarter worth about $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications during the second quarter worth about $33,000. Pittenger & Anderson Inc. lifted its stake in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 296 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in Verizon Communications by 2,159.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock worth $42,000 after purchasing an additional 950 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.4 %

Shares of VZ stock traded up $0.17 during midday trading on Monday, reaching $43.17. 3,105,394 shares of the stock were exchanged, compared to its average volume of 18,509,105. Verizon Communications Inc. has a 1 year low of $30.62 and a 1 year high of $45.36. The company’s 50 day moving average is $42.59 and its two-hundred day moving average is $41.22. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The firm has a market cap of $181.71 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.28%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is presently 101.12%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VZ shares. Citigroup lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Tigress Financial lifted their price target on 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 boosted their target price on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their target price on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday, September 23rd. Finally, Raymond James boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.26.

Verizon Communications Company 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).