One Charles Private Wealth Services LLC Has $355,000 Stake in Verizon Communications Inc. (NYSE:VZ)

One Charles Private Wealth Services LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 39.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,966 shares of the cell phone carrier’s stock after selling 3,852 shares during the quarter. Verizon Communications makes up about 0.2% of One Charles Private Wealth Services LLC’s investment portfolio, making the stock its 23rd largest holding. One Charles Private Wealth Services LLC’s holdings in Verizon Communications were worth $355,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. DeDora Capital Inc. lifted its position in shares of Verizon Communications by 5.5% in the third quarter. DeDora Capital Inc. now owns 28,699 shares of the cell phone carrier’s stock valued at $1,707,000 after buying an additional 1,491 shares during the last quarter. MONECO Advisors LLC raised its stake in Verizon Communications by 9.4% in the 3rd quarter. MONECO Advisors LLC now owns 8,864 shares of the cell phone carrier’s stock valued at $527,000 after acquiring an additional 764 shares during the period. StrongBox Wealth LLC lifted its holdings in Verizon Communications by 16.0% during the 3rd quarter. StrongBox Wealth LLC now owns 32,289 shares of the cell phone carrier’s stock valued at $1,921,000 after purchasing an additional 4,442 shares during the last quarter. Lineweaver Wealth Advisors LLC lifted its holdings in Verizon Communications by 27.8% during the 3rd quarter. Lineweaver Wealth Advisors LLC now owns 13,728 shares of the cell phone carrier’s stock valued at $816,000 after purchasing an additional 2,987 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its position in Verizon Communications by 44.0% during the third quarter. Oliver Luxxe Assets LLC now owns 7,579 shares of the cell phone carrier’s stock worth $451,000 after purchasing an additional 2,314 shares during the period. Institutional investors own 64.85% of the company’s stock.

Shares of Verizon Communications stock opened at $56.75 on Thursday. The stock has a market cap of $240.21 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 3.59 and a beta of 0.44. Verizon Communications Inc. has a twelve month low of $48.84 and a twelve month high of $62.22. The company’s fifty day moving average is $59.50 and its 200 day moving average is $57.39. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last announced its earnings results on Wednesday, October 21st. The cell phone carrier reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.03. The firm had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $31.60 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts anticipate that Verizon Communications Inc. will post 4.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a $0.6275 dividend. The ex-dividend date is Thursday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a yield of 4.42%. Verizon Communications’s dividend payout ratio is presently 52.18%.

VZ has been the subject of several recent research reports. Wolfe Research began coverage on Verizon Communications in a research note on Monday. They issued a “peer perform” rating and a $62.00 price target for the company. Scotiabank upped their price target on shares of Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Tigress Financial reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, August 11th. Moffett Nathanson restated a “hold” rating and set a $62.00 target price on shares of Verizon Communications in a research report on Friday, July 24th. Finally, Oppenheimer started coverage on shares of Verizon Communications in a research report on Tuesday, September 15th. They set a “buy” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $62.23.

About Verizon Communications

Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

Read More: What is intrinsic value?

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.