Campbell Wealth Management Sells 365 Shares of Verizon Communications Inc. (NYSE:VZ)

Campbell Wealth Management decreased its position in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,467 shares of the cell phone carrier’s stock after selling 365 shares during the quarter. Campbell Wealth Management’s holdings in Verizon Communications were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications during the first quarter valued at about $25,000. Mizuho Securities Co. Ltd. bought a new position in Verizon Communications during the second quarter valued at about $32,000. MFA Wealth Advisors LLC bought a new position in Verizon Communications during the second quarter valued at about $33,000. Accordant Advisory Group Inc grew its position in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in Verizon Communications by 50.4% during the first quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VZ. Citigroup increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Tigress Financial upped their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Raymond James upped their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Scotiabank upped their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications Trading Down 1.8 %

Shares of VZ opened at $41.36 on Friday. The firm’s 50 day simple moving average is $43.17 and its 200 day simple moving average is $41.34. The company has a market capitalization of $174.11 billion, a P/E ratio of 17.83, a P/E/G ratio of 3.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. Verizon Communications Inc. has a 1-year low of $35.31 and a 1-year high of $45.36.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. Verizon Communications’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $1.22 earnings per share. Sell-side analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

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).