Integrated Investment Consultants LLC Trims Position in Verizon Communications Inc. (VZ)

Integrated Investment Consultants LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,371 shares of the cell phone carrier’s stock after selling 2,141 shares during the period. Verizon Communications comprises approximately 0.6% of Integrated Investment Consultants LLC’s investment portfolio, making the stock its 24th biggest position. Integrated Investment Consultants LLC’s holdings in Verizon Communications were worth $1,427,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VZ. Catalyst Capital Advisors LLC acquired a new position in Verizon Communications in the 2nd quarter worth approximately $103,000. Financial Gravity Wealth Inc. acquired a new position in Verizon Communications in the 1st quarter worth approximately $128,000. Rainier Group Investment Advisory LLC purchased a new stake in Verizon Communications in the 1st quarter worth approximately $134,000. Elmwood Wealth Management Inc. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $146,000. Finally, IMA Wealth Inc. purchased a new stake in Verizon Communications in the 2nd quarter worth approximately $187,000. Hedge funds and other institutional investors own 64.34% of the company’s stock.

VZ has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 24th. Barclays increased their target price on shares of Verizon Communications from $50.00 to $53.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Morgan Stanley increased their target price on shares of Verizon Communications from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, October 29th. Finally, Moffett Nathanson reiterated a “neutral” rating and issued a $56.00 target price on shares of Verizon Communications in a research report on Tuesday, September 4th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.93.

Verizon Communications stock opened at $58.46 on Friday. The firm has a market cap of $236.16 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.49 and a beta of 0.46. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. Verizon Communications Inc. has a 1-year low of $43.97 and a 1-year high of $59.20.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $32.61 billion for the quarter, compared to the consensus estimate of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. Verizon Communications’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were issued a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.12%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is currently 64.44%.

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Verizon Communications Company 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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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

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