Glass Jacobson Investment Advisors llc Cuts Holdings in Verizon Communications Inc. $VZ

Glass Jacobson Investment Advisors llc lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 93.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 753 shares of the cell phone carrier’s stock after selling 10,668 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in Verizon Communications were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications during the 2nd quarter worth about $25,000. Advantage Trust Co increased its stake in Verizon Communications by 549.5% in the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the first quarter worth approximately $29,000. Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC boosted its holdings in shares of Verizon Communications by 222.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 500 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE:VZ opened at $38.83 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a market cap of $163.70 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 2.93 and a beta of 0.37. The firm’s fifty day moving average price is $42.84 and its 200 day moving average price is $42.97. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is presently 64.34%.

Wall Street Analyst Weigh In

Several brokerages recently commented on VZ. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings lowered shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.41.

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).