Aprio Wealth Management LLC Acquires 363 Shares of Verizon Communications Inc. (NYSE:VZ)

Aprio Wealth Management LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,955 shares of the cell phone carrier’s stock after purchasing an additional 363 shares during the quarter. Aprio Wealth Management LLC’s holdings in Verizon Communications were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Lion Street Advisors LLC bought a new position in shares of Verizon Communications in the second quarter valued at approximately $25,000. Anfield Capital Management LLC bought a new stake in shares of Verizon Communications in the second quarter valued at $32,000. Vigilant Capital Management LLC raised its stake in shares of Verizon Communications by 313.3% in the second quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 470 shares during the period. Baldrige Asset Management LLC bought a new stake in shares of Verizon Communications in the second quarter valued at $37,000. Finally, West Financial Advisors LLC raised its stake in shares of Verizon Communications by 197.6% in the third quarter. West Financial Advisors LLC now owns 753 shares of the cell phone carrier’s stock valued at $41,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 63.61% of the company’s stock.

Several research firms recently commented on VZ. Loop Capital initiated coverage on Verizon Communications in a research report on Monday, September 20th. They set a “hold” rating and a $57.00 target price for the company. Cowen upped their price objective on Verizon Communications from $68.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, October 21st. Wells Fargo & Company lowered their target price on Verizon Communications from $58.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday, October 21st. Barclays lowered their target price on Verizon Communications from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, October 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Verizon Communications in a research note on Tuesday, October 19th. They issued a “hold” rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.00.

Shares of VZ opened at $51.66 on Thursday. The business’s fifty day simple moving average is $52.94 and its two-hundred day simple moving average is $55.02. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 1.83. Verizon Communications Inc. has a 12 month low of $50.65 and a 12 month high of $61.95. The company has a market cap of $213.88 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 3.06 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 19th. The cell phone carrier reported $1.41 EPS for the quarter, beating the consensus estimate of $1.36 by $0.05. The business had revenue of $32.90 billion for the quarter, compared to the consensus estimate of $33.24 billion. Verizon Communications had a return on equity of 29.72% and a net margin of 16.42%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 5.37 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 1st. Stockholders of record on Friday, October 8th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 4.96%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, October 7th. Verizon Communications’s dividend payout ratio is presently 48.03%.

In related news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $52.91, for a total value of $82,222.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 4,662 shares of company stock worth $252,898 over the last three months. Insiders own 0.10% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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