Aberdeen Group plc Has $211.51 Million Holdings in Verizon Communications Inc. $VZ

Key Points

• Aberdeen Group plc increased its stake in Verizon Communications by 5.2% in the 2nd quarter, now owning approximately 0.12% of the company, valued at $211.51 million.
• Verizon recently reported quarterly earnings of $1.22 EPS, surpassing estimates, along with a revenue increase of 5.2% year-over-year to $34.50 billion.
• The company has announced a quarterly dividend increase to $0.69 per share, representing a 6.9% yield, to be paid on November 3rd.

Aberdeen Group plc increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,966,866 shares of the cell phone carrier's stock after buying an additional 244,912 shares during the quarter. Aberdeen Group plc owned approximately 0.12% of Verizon Communications worth $211,514,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock valued at $16,700,279,000 after buying an additional 4,347,416 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock valued at $4,983,225,000 after buying an additional 1,172,175 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after buying an additional 37,516,167 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after buying an additional 431,789 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Verizon Communications by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after buying an additional 3,100,342 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Down 2.4%

VZ stock opened at $39.86 on Friday. 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 stock has a market capitalization of $168.05 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 3.08 and a beta of 0.37. The business's fifty day moving average price is $43.48 and its two-hundred day moving average price is $43.26. 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 posted 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 firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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 6.9%. 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 dividend payout ratio (DPR) is 63.17%.

Wall Street Analyst Weigh In

VZ has been the subject of several research reports. Wells Fargo & Company raised their price target on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.63.

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).

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