Secure Asset Management LLC Raises Stake in Verizon Communications Inc. $VZ

Secure Asset Management LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 177.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,042 shares of the cell phone carrier’s stock after purchasing an additional 40,333 shares during the quarter. Secure Asset Management LLC’s holdings in Verizon Communications were worth $2,763,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in VZ. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Advantage Trust Co boosted its holdings in Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 500 shares in the last quarter. 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications in the first quarter worth $29,000. RMG Wealth Management LLC bought a new position in shares of Verizon Communications during the second quarter valued at $30,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of Verizon Communications by 739.5% during the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after acquiring an additional 599 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on VZ. Royal Bank Of Canada dropped their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings downgraded shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Finally, Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $47.47.

Verizon Communications Stock Down 1.4%

Shares of Verizon Communications stock opened at $39.83 on Friday. The company has a market cap of $167.92 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 3.61 and a beta of 0.33. The company’s 50 day moving average is $40.38 and its 200 day moving average is $42.15. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The business had revenue of $33.82 billion during the quarter, compared to the consensus estimate of $34.19 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Monday, January 12th. Verizon Communications’s dividend payout ratio is currently 58.97%.

Verizon Communications Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.