Integrity Alliance LLC. Acquires 21,896 Shares of Verizon Communications Inc. $VZ

Integrity Alliance LLC. grew its stake in Verizon Communications Inc. (NYSE:VZ) by 41.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,735 shares of the cell phone carrier’s stock after buying an additional 21,896 shares during the period. Integrity Alliance LLC.’s holdings in Verizon Communications were worth $3,428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VZ. Integrity Advisory Solutions LLC increased its holdings in Verizon Communications by 52.3% in the third quarter. Integrity Advisory Solutions LLC now owns 18,460 shares of the cell phone carrier’s stock valued at $847,000 after buying an additional 6,342 shares in the last quarter. Mountain Pacific Investment Advisers LLC purchased a new stake in shares of Verizon Communications during the third quarter worth approximately $208,000. First Nebraska Trust Co acquired a new stake in shares of Verizon Communications in the third quarter valued at about $878,000. Factory Mutual Insurance Co. acquired a new stake in Verizon Communications in the 3rd quarter valued at about $38,146,000. Finally, Aware Super Pty Ltd as trustee of Aware Super increased its holdings in shares of Verizon Communications by 504.6% in the third quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 57,734 shares of the cell phone carrier’s stock valued at $2,648,000 after purchasing an additional 48,185 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $46.20 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.58 and a current ratio of 0.63. Verizon Communications Inc. has a one year low of $38.68 and a one year high of $51.68. The company has a 50-day simple moving average of $46.78 and a 200-day simple moving average of $46.83. The stock has a market capitalization of $191.50 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 1.83 and a beta of 0.28.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. The company had revenue of $34.31 billion during the quarter, compared to the consensus estimate of $34.77 billion. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. Verizon Communications’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. On average, analysts predict that Verizon Communications Inc. will post 5.08 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 9th were paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Friday, October 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 72.19%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Verizon Communications from $51.00 to $47.00 in a research note on Tuesday, October 27th. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Sanford C. Bernstein decreased their price objective on shares of Verizon Communications from $47.00 to $45.00 in a report on Tuesday, October 13th. Freedom Broker raised Verizon Communications from a “hold” rating to a “buy” rating and boosted their target price for the company from $53.00 to $55.00 in a research report on Wednesday, October 28th. Finally, Citigroup lowered their price target on Verizon Communications from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Thirteen analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.05.

Trending Headlines about Verizon Communications

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon and Ericsson are moving toward a nationwide rollout of AI-enabled network automation. Field tests reportedly improved certain downlink and uplink performance measures, offering potential efficiency and service-quality benefits. Verizon and Ericsson partner to transform AI-native Autonomous Networks
• Neutral Sentiment: Verizon announced pricing for offers to purchase up to $500 million of five series of notes. The debt-management move may help reshape its liabilities, but the announcement alone does not establish a material change to its financial outlook. Verizon announces pricing terms of its tender offers for five series of notes
• Neutral Sentiment: Recent Q3 commentary noted that smartphone net additions were much higher than a year earlier, but revenue per account fell 1.9%, pointing to a mixed growth picture. Verizon latest earnings commentary
• Neutral Sentiment: Verizon is expanding its private wireless support for NFL games, including connected officiating and deployments at overseas venues. The initiative showcases its network capabilities, though the article does not quantify its financial impact. Powering the Play: Verizon Elevates the NFL Gameday Experience Worldwide
• Negative Sentiment: SpaceX is pursuing wireless-network plans with Qualcomm and reportedly exploring a Boost Mobile deal. A new entrant could intensify competition for Verizon, although the plans remain developing and no Boost deal has been finalized. SpaceX strikes major Qualcomm deal to take on Verizon and AT&T

Insider Buying and Selling

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $43.00, for a total value of $47,300.00. Following the sale, the chief executive officer directly owned 98,866 shares of the company’s stock, valued at approximately $4,251,238. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 11,000 shares of company stock valued at $516,373. 0.03% of the stock is owned by insiders.

Verizon Communications Profile

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and digital connectivity services. Through its consumer business, Verizon offers mobile voice and data plans, smartphones and other connected devices, home internet, fixed wireless access, and fiber-optic broadband services under the Fios brand.

Verizon also serves businesses, government agencies, and other organizations with wireless connectivity, private networks, internet and data services, managed communications, cloud and security solutions, and Internet of Things services.