MBM Wealth Consultants LLC Has $295,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

MBM Wealth Consultants LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,349 shares of the cell phone carrier’s stock after buying an additional 533 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Verizon Communications were worth $295,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in VZ. Kestra Investment Management LLC acquired a new stake in shares of Verizon Communications during the third quarter worth approximately $3,376,000. Cyndeo Wealth Partners LLC boosted its stake in shares of Verizon Communications by 9.7% during 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 buying an additional 17,855 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Verizon Communications by 1,934.5% in the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock worth $48,503,000 after acquiring an additional 1,026,930 shares during the last quarter. Burney Co. raised its holdings in shares of Verizon Communications by 30.4% during the fourth quarter. Burney Co. now owns 186,621 shares of the cell phone carrier’s stock worth $7,463,000 after acquiring an additional 43,472 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Verizon Communications by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock valued at $92,445,000 after purchasing an additional 57,583 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VZ shares. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.54.

Verizon Communications Stock Up 0.7 %

Shares of NYSE:VZ opened at $39.04 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The stock has a market cap of $164.34 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 3.25 and a beta of 0.46. The company has a 50 day moving average of $41.00 and a 200-day moving average of $41.68. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $45.36.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Verizon Communications Company Profile

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).