Verizon Communications Inc. $VZ Stock: Integrity Alliance LLC. Increases Position

Integrity Alliance LLC. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 41.4% in the 3rd quarter, Holdings Channel reports. The fund owned 74,735 shares of the cell phone carrier’s stock after acquiring an additional 21,896 shares during the period. Integrity Alliance LLC.’s holdings in Verizon Communications were worth $3,428,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of VZ. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at approximately $27,000. Gill Capital Partners LLC boosted its stake in Verizon Communications by 74.6% during the 2nd quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 265 shares during the last quarter. Balance Wealth Partners LLC acquired a new position in Verizon Communications during the 3rd quarter worth $37,000. Bare Financial Services Inc raised its stake in shares of Verizon Communications by 37.4% in the 2nd quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier’s stock valued at $36,000 after purchasing an additional 229 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in shares of Verizon Communications by 32.7% during the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $43.00, for a total transaction of $47,300.00. Following the transaction, the chief executive officer owned 98,866 shares of the company’s stock, valued at $4,251,238. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,000 shares of company stock worth $516,373. 0.03% of the stock is currently owned by insiders.

Verizon Communications Trading Up 2.1%

NYSE:VZ opened at $46.20 on Thursday. The firm has a market cap of $191.50 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.83 and a beta of 0.28. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.33. Verizon Communications Inc. has a 12 month low of $38.68 and a 12 month high of $51.68. The company’s 50 day moving average is $46.78 and its 200-day moving average is $46.83.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, topping the consensus estimate of $1.27 by $0.04. The company had revenue of $34.31 billion for the quarter, compared to the consensus estimate of $34.77 billion. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 5.08 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Friday, October 9th were given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, October 9th. Verizon Communications’s dividend payout ratio (DPR) is 72.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Sanford C. Bernstein reduced their price objective on Verizon Communications from $47.00 to $45.00 in a research note on Tuesday, October 13th. Freedom Broker raised shares of Verizon Communications from a “hold” rating to a “buy” rating and lifted their price target for the company from $53.00 to $55.00 in a report on Wednesday, October 28th. Barclays lowered their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 27th. Wells Fargo & Company raised their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Daiwa Securities Group lowered their target price on Verizon Communications from $55.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Thirteen analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has an average rating of “Hold” and an average target price of $51.05.

Verizon Communications News Summary

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon and Ericsson are moving toward a nationwide rollout of AI-enabled network automation. Field tests reportedly improved certain downlink and uplink performance measures, offering potential efficiency and service-quality benefits. Verizon and Ericsson partner to transform AI-native Autonomous Networks
• Neutral Sentiment: Verizon announced pricing for offers to purchase up to $500 million of five series of notes. The debt-management move may help reshape its liabilities, but the announcement alone does not establish a material change to its financial outlook. Verizon announces pricing terms of its tender offers for five series of notes
• Neutral Sentiment: Recent Q3 commentary noted that smartphone net additions were much higher than a year earlier, but revenue per account fell 1.9%, pointing to a mixed growth picture. Verizon latest earnings commentary
• Neutral Sentiment: Verizon is expanding its private wireless support for NFL games, including connected officiating and deployments at overseas venues. The initiative showcases its network capabilities, though the article does not quantify its financial impact. Powering the Play: Verizon Elevates the NFL Gameday Experience Worldwide
• Negative Sentiment: SpaceX is pursuing wireless-network plans with Qualcomm and reportedly exploring a Boost Mobile deal. A new entrant could intensify competition for Verizon, although the plans remain developing and no Boost deal has been finalized. SpaceX strikes major Qualcomm deal to take on Verizon and AT&T

Verizon Communications Profile

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and digital connectivity services. Through its consumer business, Verizon offers mobile voice and data plans, smartphones and other connected devices, home internet, fixed wireless access, and fiber-optic broadband services under the Fios brand.

Verizon also serves businesses, government agencies, and other organizations with wireless connectivity, private networks, internet and data services, managed communications, cloud and security solutions, and Internet of Things services.