IHT Wealth Management LLC Increases Stake in Verizon Communications Inc. (NYSE:VZ)

IHT Wealth Management LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 34.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,401 shares of the cell phone carrier’s stock after purchasing an additional 29,663 shares during the period. IHT Wealth Management LLC’s holdings in Verizon Communications were worth $5,190,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VZ. Gateway Investment Advisers LLC grew its stake in shares of Verizon Communications by 15.4% in the second quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after purchasing an additional 37,732 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $3,376,000. Cyndeo Wealth Partners LLC grew its position in shares of Verizon Communications by 9.7% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after buying an additional 17,855 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Verizon Communications by 1,934.5% during the third quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after buying an additional 1,026,930 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Verizon Communications by 2.9% during the third quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock valued at $92,445,000 after acquiring an additional 57,583 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. Royal Bank of Canada lifted their price objective on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Raymond James lifted their price target on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Scotiabank increased their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Citigroup raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Trading Down 0.1 %

Shares of VZ stock opened at $43.81 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The company has a market cap of $184.42 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.19 and a beta of 0.44. Verizon Communications Inc. has a 1 year low of $36.46 and a 1 year high of $45.36. The firm has a fifty day moving average price of $42.88 and a 200-day moving average price of $41.75.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 EPS. As a group, equities analysts predict that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

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).