Verizon Communications Inc. (NYSE:VZ) Position Reduced by BLB&B Advisors LLC

BLB&B Advisors LLC trimmed its position in Verizon Communications Inc. (NYSE:VZ) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,217 shares of the cell phone carrier’s stock after selling 6,140 shares during the quarter. Verizon Communications makes up approximately 1.0% of BLB&B Advisors LLC’s portfolio, making the stock its 23rd largest position. BLB&B Advisors LLC’s holdings in Verizon Communications were worth $10,364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VZ. DeDora Capital Inc. grew its holdings in shares of Verizon Communications by 5.5% during 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 in the last quarter. MONECO Advisors LLC boosted its position in Verizon Communications by 9.4% during the 3rd quarter. MONECO Advisors LLC now owns 8,864 shares of the cell phone carrier’s stock worth $527,000 after acquiring an additional 764 shares during the period. StrongBox Wealth LLC grew its stake 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 acquiring an additional 4,442 shares in the last quarter. Lineweaver Wealth Advisors LLC lifted its position in shares of Verizon Communications by 27.8% in the third quarter. Lineweaver Wealth Advisors LLC now owns 13,728 shares of the cell phone carrier’s stock worth $816,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in Verizon Communications by 44.0% in the third quarter. Oliver Luxxe Assets LLC now owns 7,579 shares of the cell phone carrier’s stock valued at $451,000 after purchasing an additional 2,314 shares in the last quarter. 64.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE VZ opened at $56.75 on Thursday. The firm has a market capitalization of $240.21 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 3.59 and a beta of 0.44. Verizon Communications Inc. has a one year low of $48.84 and a one year high of $62.22. The business has a fifty day simple moving average of $59.50 and a 200 day simple moving average of $57.39. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The company had revenue of $31.50 billion during the quarter, compared to analysts’ expectations of $31.60 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.6275 per share. The ex-dividend date of this dividend is Thursday, October 8th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 dividend on an annualized basis and a yield of 4.42%. Verizon Communications’s dividend payout ratio is 52.18%.

Several equities research analysts recently commented on VZ shares. Raymond James boosted their price target on Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Argus raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, September 8th. Oppenheimer initiated coverage on shares of Verizon Communications in a research note on Tuesday, September 15th. They set a “buy” rating and a $70.00 price target on the stock. Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 price objective on shares of Verizon Communications in a research note on Thursday, July 2nd. Finally, UBS Group increased their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $62.23.

Verizon Communications Profile

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: Mutual Funds

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

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