Marcum Wealth LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ – Get Rating) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,984 shares of the cell phone carrier's stock after purchasing an additional 2,023 shares during the quarter. Marcum Wealth LLC's holdings in Verizon Communications were worth $1,928,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rinkey Investments acquired a new position in shares of Verizon Communications during the fourth quarter valued at $27,000. Cordant Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at $30,000. Lansing Street Advisors acquired a new position in shares of Verizon Communications during the first quarter valued at $35,000. Conrad Siegel Investment Advisors Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at $36,000. Finally, Gibson Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 62.83% of the company's stock.

Verizon Communications Price Performance

NYSE VZ opened at $39.52 on Friday. The stock's 50-day moving average price is $43.77 and its two-hundred day moving average price is $48.38. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56. The company has a market cap of $165.97 billion, a PE ratio of 7.92, a PEG ratio of 1.85 and a beta of 0.36. Verizon Communications Inc. has a 1 year low of $39.11 and a 1 year high of $55.51.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.6525 per share. This represents a $2.61 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from Verizon Communications's previous quarterly dividend of $0.64. Verizon Communications's payout ratio is presently 51.30%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VZ shares. StockNews.com downgraded shares of Verizon Communications from a "buy" rating to a "hold" rating in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Verizon Communications from $58.00 to $52.00 and set an "equal weight" rating for the company in a report on Friday, July 8th. Raymond James reaffirmed an "outperform" rating and issued a $64.00 price objective on shares of Verizon Communications in a report on Thursday, July 7th. Barclays downgraded shares of Verizon Communications from an "overweight" rating to an "equal weight" rating in a report on Friday, July 22nd. Finally, Moffett Nathanson downgraded shares of Verizon Communications from a "market perform" rating to an "underperform" rating and set a $41.00 price objective for the company. in a report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Verizon Communications has an average rating of "Hold" and a consensus target price of $55.61.

Insiders Place Their Bets

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the business's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total transaction of $80,112.36. Following the sale, the executive vice president now owns 33,403 shares in the company, valued at approximately $1,717,582.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.10% of the company's stock.

Verizon Communications Profile

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

Featured Articles

• Get a free copy of the StockNews.com research report on Verizon Communications (VZ)
• Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
• MarketBeat: Week in Review 9/19 – 9/23
• Why Does Tesla Stock Remain Resilient?
• Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
• Is Costco's Post-Earnings Price Weakness A Good Time To Buy?

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ – Get Rating).

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.