Verizon Communications Inc. (NYSE:VZ) Shares Sold by CFM Wealth Partners LLC

CFM Wealth Partners LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,037 shares of the cell phone carrier’s stock after selling 1,204 shares during the quarter. CFM Wealth Partners LLC’s holdings in Verizon Communications were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in Verizon Communications during the first quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the second quarter worth approximately $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 2nd quarter valued at $33,000. Pittenger & Anderson Inc. boosted its holdings in shares of Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after purchasing an additional 296 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in shares of Verizon Communications by 2,159.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 994 shares of the cell phone carrier’s stock valued at $42,000 after acquiring an additional 950 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.3 %

Verizon Communications stock opened at $43.77 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The firm has a 50-day moving average price of $42.73 and a two-hundred day moving average price of $41.25. The firm has a market capitalization of $184.22 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 52-week low of $30.62 and a 52-week high of $45.36.

Verizon Communications (NYSE:VZ) last issued its quarterly 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. The company had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s payout ratio is presently 101.12%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VZ shares. Scotiabank raised their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Royal Bank of Canada lifted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, September 23rd. Citigroup lifted their price target on shares of 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 boosted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.26.

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).