Insigneo Advisory Services LLC Has $1.63 Million Stock Holdings in Verizon Communications Inc. (NYSE:VZ)

Insigneo Advisory Services LLC cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 21.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,028 shares of the cell phone carrier’s stock after selling 11,039 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Verizon Communications were worth $1,633,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Verizon Communications during the 1st quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new position in Verizon Communications in the 4th quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new stake in Verizon Communications during the second quarter valued at $32,000. MFA Wealth Advisors LLC bought a new position in shares of Verizon Communications in the 2nd quarter worth $33,000. Finally, Vima LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at about $36,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 0.9 %

VZ opened at $44.68 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 52 week low of $30.14 and a 52 week high of $45.05. The stock’s fifty day moving average is $41.59 and its two-hundred day moving average is $40.86. The company has a market capitalization of $188.07 billion, a P/E ratio of 16.67, a PEG ratio of 3.99 and a beta of 0.42.

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

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.678 dividend. This represents a $2.71 annualized dividend and a yield of 6.07%. The ex-dividend date is Thursday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is 101.12%.

Analysts Set New Price Targets

A number of research firms have issued reports on VZ. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Raymond James lifted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, Scotiabank lifted their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $46.03.

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).