KKM Financial LLC Grows Position in Verizon Communications Inc. (NYSE:VZ)

KKM Financial LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,422 shares of the cell phone carrier’s stock after buying an additional 3,468 shares during the period. KKM Financial LLC’s holdings in Verizon Communications were worth $2,309,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VZ. Koesten Hirschmann & Crabtree INC. purchased a new position in Verizon Communications in the first quarter worth about $25,000. Capital Performance Advisors LLP purchased a new position in Verizon Communications in the third quarter worth about $31,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications in the second quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications in the second quarter worth about $33,000. Finally, Accordant Advisory Group Inc boosted its position in 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 purchasing an additional 450 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 1.5 %

Shares of VZ opened at $43.15 on Friday. The business’s 50 day moving average is $42.90 and its 200 day moving average is $41.53. The company has a market capitalization of $181.65 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 3.09 and a beta of 0.43. Verizon Communications Inc. has a 12-month low of $36.46 and a 12-month high of $45.36. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.01. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $1.22 EPS. Research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.29%. Verizon Communications’s payout ratio is presently 116.81%.

Analysts Set New Price Targets

Several research analysts have issued reports on VZ shares. Scotiabank raised their target price on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Raymond James raised their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. StockNews.com raised Verizon Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday. Citigroup raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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).