Verizon Communications Inc. (NYSE:VZ) Shares Sold by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,398 shares of the cell phone carrier’s stock after selling 5,204 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Verizon Communications were worth $2,078,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications in the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Verizon Communications in the fourth quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in Verizon Communications in the second quarter valued at $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications in the second quarter valued at $33,000. Finally, Vima LLC purchased a new stake in Verizon Communications in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

VZ has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 target price on shares of Verizon Communications in a research report on Monday, September 9th. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. TD Cowen raised their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Scotiabank lifted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.66.

Verizon Communications Stock Up 1.3 %

Shares of NYSE:VZ opened at $44.43 on Monday. The company has a market capitalization of $187.03 billion, a PE ratio of 16.58, a P/E/G ratio of 3.99 and a beta of 0.42. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a twelve month low of $30.14 and a twelve month high of $44.47. The firm has a 50 day simple moving average of $41.17 and a 200-day simple moving average of $40.64.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.678 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.10%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s payout ratio is presently 99.25%.

About Verizon Communications

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).