Verizon Communications Inc. (NYSE:VZ) Shares Sold by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,821 shares of the cell phone carrier’s stock after selling 565 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Verizon Communications were worth $261,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cooper Financial Group lifted its position in Verizon Communications by 3.9% during the first quarter. Cooper Financial Group now owns 12,057 shares of the cell phone carrier’s stock worth $506,000 after buying an additional 452 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Verizon Communications by 13.9% during the 1st quarter. Ballentine Partners LLC now owns 55,642 shares of the cell phone carrier’s stock worth $2,335,000 after acquiring an additional 6,790 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Verizon Communications during the 1st quarter valued at about $113,000. Lane & Associates LLC purchased a new stake in shares of Verizon Communications in the first quarter valued at about $274,000. Finally, CHICAGO TRUST Co NA increased its position in Verizon Communications by 9.1% during the first quarter. CHICAGO TRUST Co NA now owns 50,270 shares of the cell phone carrier’s stock worth $2,109,000 after purchasing an additional 4,185 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $43.99 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. Verizon Communications Inc. has a 52-week low of $31.26 and a 52-week high of $45.36. The firm has a market cap of $185.17 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. The company’s 50 day moving average is $42.94 and its two-hundred day moving average is $41.29.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) 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 firm had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. During the same period last year, the business posted $1.21 earnings per share. Verizon Communications’s revenue was up .6% compared to the same quarter last year. On average, research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.17%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio is presently 101.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Citigroup increased their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Bank of America lifted their target price on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. TD Cowen increased their price target on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Tigress Financial boosted their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.31.

Verizon Communications Company 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).