6,389 Shares in Verizon Communications Inc. $VZ Bought by Wealth Advisory Solutions LLC

Key Points

• Wealth Advisory Solutions LLC has acquired 6,389 shares of Verizon Communications, valued at approximately $276,000, marking a new position for the firm in the second quarter.
• Several institutional investors have significantly increased their holdings in Verizon, with Brighton Jones LLC raising its stake by 61.2% and State of Wyoming increasing it by 94.0% in the fourth quarter.
• Verizon has announced a quarterly dividend of $0.69 per share, reflecting a slight increase from the previous dividend and a yield of 6.4% for investors.

Wealth Advisory Solutions LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,389 shares of the cell phone carrier's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after buying an additional 16,704 shares during the last quarter. State of Wyoming increased its stake in Verizon Communications by 94.0% in the 4th quarter. State of Wyoming now owns 4,422 shares of the cell phone carrier's stock valued at $177,000 after buying an additional 2,143 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Verizon Communications in the 4th quarter valued at $1,608,000. Toronto Dominion Bank increased its stake in Verizon Communications by 5.7% in the 4th quarter. Toronto Dominion Bank now owns 2,346,826 shares of the cell phone carrier's stock valued at $93,848,000 after buying an additional 125,966 shares during the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in Verizon Communications in the 4th quarter valued at $74,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on VZ. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average price target of $47.65.

Verizon Communications Stock Down 0.6%

Verizon Communications stock opened at $43.21 on Tuesday. The firm has a market capitalization of $182.17 billion, a PE ratio of 10.07, a P/E/G ratio of 3.35 and a beta of 0.36. 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 company's 50-day moving average is $43.39 and its 200-day moving average is $43.38. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend 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 63.17%.

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).

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