home Latest News WT Wealth Management Makes New Investment in Verizon Communications Inc. (NYSE:VZ) – GCR

WT Wealth Management Makes New Investment in Verizon Communications Inc. (NYSE:VZ) – GCR

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WT Wealth Management acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,946 shares of the cell phone carrier’s stock, valued at approximately $298,000.

A number of other large investors have also recently made changes to their positions in the business. Financial Gravity Wealth Inc. raised its position in shares of Verizon Communications by 4.5% during the third quarter. Financial Gravity Wealth Inc. now owns 3,942 shares of the cell phone carrier’s stock worth $238,000 after acquiring an additional 169 shares during the last quarter. Albert D Mason Inc. raised its position in shares of Verizon Communications by 0.7% during the third quarter. Albert D Mason Inc. now owns 23,439 shares of the cell phone carrier’s stock worth $1,415,000 after acquiring an additional 170 shares during the last quarter. SMH Capital Advisors Inc. raised its position in shares of Verizon Communications by 4.6% during the third quarter. SMH Capital Advisors Inc. now owns 3,919 shares of the cell phone carrier’s stock worth $237,000 after acquiring an additional 172 shares during the last quarter. Nadler Financial Group Inc. raised its position in shares of Verizon Communications by 1.2% during the third quarter. Nadler Financial Group Inc. now owns 15,114 shares of the cell phone carrier’s stock worth $912,000 after acquiring an additional 174 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in shares of Verizon Communications by 35.8% during the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after acquiring an additional 181 shares during the last quarter. 65.61% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on VZ. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, October 15th. They set a “market perform” rating and a $63.00 price objective for the company. Moffett Nathanson set a $57.00 price objective on Verizon Communications and gave the stock a “hold” rating in a research report on Friday, October 25th. HSBC downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Thursday. Citigroup set a $62.00 price objective on Verizon Communications and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer upgraded Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Tuesday, August 27th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $62.84.

VZ stock traded down $0.07 during mid-day trading on Thursday, reaching $59.34. The company’s stock had a trading volume of 9,530,079 shares, compared to its average volume of 13,124,487. The company has a market cap of $246.53 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 2.97 and a beta of 0.53. The business’s 50 day moving average price is $60.12 and its 200 day moving average price is $58.05. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 12 month low of $52.28 and a 12 month high of $61.58.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.01. The business had revenue of $32.89 billion during the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, equities analysts expect that Verizon Communications Inc. will post 4.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.615 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.60. This represents a $2.46 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Wednesday, October 9th. Verizon Communications’s payout ratio is presently 52.23%.

In related news, CEO Tami A. Erwin sold 17,000 shares of Verizon Communications stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total transaction of $981,750.00. Following the transaction, the chief executive officer now owns 853 shares of the company’s stock, valued at $49,260.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $56.01, for a total value of $75,557.49. Following the transaction, the executive vice president now directly owns 22,681 shares in the company, valued at approximately $1,270,362.81. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,047 shares of company stock valued at $1,219,943. 0.03% of the stock is currently owned by corporate insiders.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company’s Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)