Verizon Communications Inc. (NYSE:VZ) Shares Sold by Credit Capital Investments LLC

Credit Capital Investments LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,000 shares of the cell phone carrier’s stock after selling 17,362 shares during the period. Verizon Communications accounts for approximately 9.2% of Credit Capital Investments LLC’s portfolio, making the stock its 3rd biggest position. Credit Capital Investments LLC’s holdings in Verizon Communications were worth $7,455,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications in the first quarter worth about $25,000. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications during the 3rd quarter worth about $31,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the 2nd quarter worth about $33,000. Finally, Accordant Advisory Group Inc lifted its position in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after purchasing an additional 450 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 2.1 %

NYSE:VZ traded up $0.83 during trading hours on Wednesday, hitting $41.23. 3,519,818 shares of the stock were exchanged, compared to its average volume of 18,526,129. The company’s 50 day moving average is $43.03 and its two-hundred day moving average is $41.41. Verizon Communications Inc. has a twelve month low of $35.81 and a twelve month high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $173.56 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.94 and a beta of 0.43.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.678 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 116.81%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Bank of America boosted their price target on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. TD Cowen boosted their price target on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Raymond James boosted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.37.

Verizon Communications 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).