Journey Advisory Group LLC Sells 1,900 Shares of Verizon Communications Inc. (NYSE:VZ)

Journey Advisory Group LLC decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,643 shares of the cell phone carrier’s stock after selling 1,900 shares during the period. Journey Advisory Group LLC’s holdings in Verizon Communications were worth $521,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Taylor Hoffman Wealth Management raised its stake in Verizon Communications by 32.9% in the 4th quarter. Taylor Hoffman Wealth Management now owns 9,353 shares of the cell phone carrier’s stock worth $353,000 after purchasing an additional 2,314 shares in the last quarter. Leo Wealth LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $3,346,000. Gateway Investment Advisers LLC increased its stake in Verizon Communications by 15.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after acquiring an additional 37,732 shares during the period. Windle Wealth LLC raised its holdings in Verizon Communications by 0.8% in the 4th quarter. Windle Wealth LLC now owns 164,242 shares of the cell phone carrier’s stock valued at $6,192,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Mosley Wealth Management bought a new stake in shares of Verizon Communications during the 4th quarter valued at $433,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen lifted their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group began coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. Scotiabank upped their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. 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 research report on Tuesday, July 23rd. Finally, Tigress Financial increased their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $45.78.

Verizon Communications Trading Down 0.4 %

Shares of VZ stock opened at $41.31 on Friday. Verizon Communications Inc. has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The stock has a 50 day simple moving average of $40.93 and a two-hundred day simple moving average of $40.52. The company has a market cap of $173.88 billion, a P/E ratio of 15.41, a PEG ratio of 3.81 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. Verizon Communications’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.57 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).