Kowal Investment Group LLC Has $741,000 Holdings in Verizon Communications Inc. (NYSE:VZ)

Kowal Investment Group LLC lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 11.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,971 shares of the cell phone carrier’s stock after selling 2,287 shares during the period. Kowal Investment Group LLC’s holdings in Verizon Communications were worth $741,000 at the end of the most recent reporting period.

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

Verizon Communications Trading Up 0.9 %

VZ opened at $44.33 on Friday. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $45.05. The company has a market cap of $186.60 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.99 and a beta of 0.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The firm has a 50 day simple moving average of $41.46 and a 200 day simple moving average of $40.78.

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

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.12%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is 101.12%.

Analysts Set New Price Targets

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

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).