Impact Partnership Wealth LLC Sells 7,585 Shares of Verizon Communications Inc. $VZ

Impact Partnership Wealth LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 30.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,123 shares of the cell phone carrier’s stock after selling 7,585 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Verizon Communications were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bulwark Capital Corp bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $25,000. Advantage Trust Co boosted its position in Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the 1st quarter worth approximately $29,000. Accent Capital Management LLC purchased a new position in shares of Verizon Communications in the 1st quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC grew its stake in Verizon Communications by 222.2% in the second quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 500 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 2.2%

VZ stock opened at $40.20 on Thursday. The stock has a market capitalization of $169.48 billion, a P/E ratio of 9.37, a P/E/G ratio of 2.96 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The business has a fifty day moving average price of $42.53 and a 200-day moving average price of $42.89.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $33.80 billion during the quarter, compared to the consensus estimate of $34.19 billion. During the same period last year, the company earned $1.19 EPS. Verizon Communications’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. Verizon Communications’s dividend payout ratio is presently 64.34%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VZ. BNP Paribas downgraded shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company boosted their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Scotiabank increased their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

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).