Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,994 shares of the cell phone carrier’s stock after buying an additional 786 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Verizon Communications were worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Verizon Communications in the 3rd quarter worth approximately $31,000. Legend Financial Advisors Inc. grew its holdings in shares of Verizon Communications by 69.6% during the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after buying an additional 320 shares in the last quarter. Accordant Advisory Group Inc raised its position in shares of Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Verizon Communications in the third quarter worth about $44,000. Finally, IFS Advisors LLC boosted its position in Verizon Communications by 244.1% during the fourth quarter. IFS Advisors LLC now owns 1,115 shares of the cell phone carrier’s stock worth $45,000 after acquiring an additional 791 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VZ has been the topic of a number of research reports. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Tigress Financial raised their price objective on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Bank of America increased their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.54.

Verizon Communications Stock Performance

Shares of VZ stock opened at $39.17 on Friday. The stock’s 50-day moving average is $40.93 and its two-hundred day moving average is $41.64. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $45.36. The firm has a market cap of $164.89 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 3.27 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same period last year, the business posted $1.08 EPS. Analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.92%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 116.81%.

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).