Impact Partnership Wealth LLC Sells 612 Shares of Verizon Communications Inc. (NYSE:VZ)

Impact Partnership Wealth LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,208 shares of the cell phone carrier’s stock after selling 612 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Verizon Communications were worth $1,177,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of VZ. Swedbank AB purchased a new stake in Verizon Communications in the 1st quarter worth about $250,312,000. International Assets Investment Management LLC lifted its position in shares of Verizon Communications by 4,520.3% during the third quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock worth $216,266,000 after acquiring an additional 4,711,309 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of 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 period. Bank of Montreal Can grew its position in shares of Verizon Communications by 18.6% in the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock valued at $536,791,000 after purchasing an additional 2,040,247 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its stake in shares of Verizon Communications by 37.9% during 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 period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE VZ traded down $0.99 during trading hours on Thursday, hitting $41.87. 1,760,173 shares of the company’s stock traded hands, compared to its average volume of 18,497,025. The business’s fifty day moving average price is $43.05 and its two-hundred day moving average price is $41.29. 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 capitalization of $176.24 billion, a P/E ratio of 16.00, a P/E/G ratio of 4.02 and a beta of 0.42. Verizon Communications Inc. has a 52 week low of $33.34 and a 52 week high of $45.36.

Verizon Communications (NYSE:VZ) last announced 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 during the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s payout ratio is 101.12%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VZ. Scotiabank raised their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday. Royal Bank of Canada increased their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a report on Monday, September 23rd. Raymond James raised their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Tigress Financial raised their price target on shares of Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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).