Verizon Communications Inc. (NYSE:VZ) Shares Purchased by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,294 shares of the cell phone carrier’s stock after buying an additional 885 shares during the period. Kolinsky Wealth Management LLC’s holdings in Verizon Communications were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Gateway Investment Advisers LLC boosted its stake in Verizon Communications by 15.4% in the second quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock valued at $11,678,000 after acquiring an additional 37,732 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its position in shares of Verizon Communications by 9.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock valued at $9,095,000 after purchasing an additional 17,855 shares during the period. Janney Montgomery Scott LLC grew its stake in Verizon Communications by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock worth $92,445,000 after buying an additional 57,583 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after buying an additional 5,936,009 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Verizon Communications by 2.7% in the third quarter. Principal Financial Group Inc. now owns 4,954,357 shares of the cell phone carrier’s stock valued at $222,500,000 after buying an additional 129,171 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.1 %

VZ stock opened at $44.34 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The company’s 50-day moving average price is $42.91 and its 200 day moving average price is $41.69. Verizon Communications Inc. has a 52 week low of $36.46 and a 52 week high of $45.36. The company has a market cap of $186.65 billion, a P/E ratio of 19.11, a P/E/G ratio of 3.22 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.678 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.12%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Scotiabank raised their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Tigress Financial lifted their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Raymond James boosted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.37.

About Verizon Communications

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).