Verizon Communications Inc. (NYSE:VZ) Shares Bought by Hochman Cole Investment Advisors Inc.
Hochman Cole Investment Advisors Inc. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,979 shares of the cell phone carrier’s stock after buying an additional 1,383 shares during the quarter. Hochman Cole Investment Advisors Inc.’s holdings in Verizon Communications were worth $1,129,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA acquired a new stake in Verizon Communications during the 2nd quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at $34,000. HighMark Wealth Management LLC raised its holdings in shares of Verizon Communications by 52.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after purchasing an additional 270 shares in the last quarter. Evolution Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 166.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. Finally, JJJ Advisors Inc. raised its stake in Verizon Communications by 192.9% during the 2nd quarter. JJJ Advisors Inc. now owns 1,025 shares of the cell phone carrier’s stock worth $57,000 after acquiring an additional 675 shares in the last quarter. Institutional investors own 64.85% of the company’s stock.
VZ has been the topic of several research reports. Argus raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, September 8th. Wolfe Research assumed coverage on shares of Verizon Communications in a report on Monday, October 19th. They issued a “peer perform” rating and a $62.00 target price on the stock. Credit Suisse Group reaffirmed a “hold” rating and issued a $61.00 target price on shares of Verizon Communications in a report on Thursday, July 2nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $57.00 target price on shares of Verizon Communications in a report on Wednesday, September 9th. Finally, Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Tuesday, August 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $62.23.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $31.50 billion during the quarter, compared to analyst estimates of $31.60 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a $0.6275 dividend. This represents a $2.51 dividend on an annualized basis and a yield of 4.33%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, October 8th. Verizon Communications’s payout ratio is presently 52.18%.
Verizon Communications Company Profile
Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.
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