Iams Wealth Management LLC Purchases New Position in Verizon Communications Inc. $VZ

Key Points

• Iams Wealth Management LLC has acquired 7,591 shares of Verizon Communications Inc., valued at approximately $328,000, in the second quarter.
• Verizon reported earnings of $1.22 EPS for the last quarter, exceeding analysts' expectations by $0.03, and has set its FY 2025 guidance at 4.636-4.728 EPS.
• The company announced an increase in its quarterly dividend to $0.69, representing a yield of 6.3%, with the payment scheduled for November 3rd.

Iams Wealth Management LLC bought a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,591 shares of the cell phone carrier's stock, valued at approximately $328,000.

Several other large investors have also recently bought and sold shares of VZ. Bernard Wealth Management Corp. increased its position in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter valued at $25,000. Cherry Tree Wealth Management LLC grew its position in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in Verizon Communications in the first quarter valued at $26,000. Finally, 1 North Wealth Services LLC bought a new position in Verizon Communications in the first quarter valued at $29,000. Institutional investors own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VZ shares. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company raised their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada increased 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. Morgan Stanley lifted their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Stock Performance

Verizon Communications stock traded down $0.28 during midday trading on Monday, hitting $43.21. The company's stock had a trading volume of 18,496,468 shares, compared to its average volume of 16,403,802. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. 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 has a 50-day moving average price of $43.39 and a two-hundred day moving average price of $43.38. The company has a market cap of $182.17 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 3.35 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share 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 analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared 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 is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. 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).