Adage Capital Partners GP L.L.C. Has $182.61 Million Stake in Verizon Communications Inc. $VZ

Key Points

• Adage Capital Partners GP L.L.C. has reduced its shares in Verizon Communications by 6.1%, leaving it with 4,025,697 shares valued at approximately $182.6 million.
• Verizon's stock has seen a modest increase of 0.7%, with recent quarterly earnings surpassing analyst expectations, reporting $1.22 per share against a consensus estimate of $1.19.
• The company announced a quarterly dividend of $0.6775 per share, yielding 6.1% annually, with a current dividend payout ratio of 63.17%.

Adage Capital Partners GP L.L.C. lessened its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,025,697 shares of the cell phone carrier's stock after selling 260,175 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.10% of Verizon Communications worth $182,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC increased its position in Verizon Communications by 303.9% during the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock worth $2,261,648,000 after purchasing an additional 37,516,167 shares in the last quarter. Nuveen LLC purchased a new stake in Verizon Communications during the 1st quarter worth about $661,720,000. Pacer Advisors Inc. increased its position in Verizon Communications by 737.5% during the 1st quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock worth $530,576,000 after purchasing an additional 10,300,369 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Verizon Communications by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock worth $1,434,572,000 after purchasing an additional 5,392,416 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Verizon Communications by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock worth $1,555,351,000 after purchasing an additional 4,568,518 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent analyst reports. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday. They issued a "buy" rating and a $49.00 price target for the company. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley lifted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.44.

Verizon Communications Stock Down 0.2%

Verizon Communications stock traded down $0.09 during midday trading on Wednesday, hitting $43.71. 21,825,041 shares of the company were exchanged, compared to its average volume of 14,573,251. The company's fifty day moving average price is $43.12 and its 200-day moving average price is $43.31. The company has a market cap of $184.28 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 3.41 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. 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 issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 19.61% and a net margin of 13.28%.The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.6775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.2%. Verizon Communications's dividend payout ratio is 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).