Adams Asset Advisors LLC Sells 22,052 Shares of Verizon Communications Inc. $VZ

Adams Asset Advisors LLC lessened its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 235,178 shares of the cell phone carrier's stock after selling 22,052 shares during the period. Verizon Communications comprises 1.4% of Adams Asset Advisors LLC's portfolio, making the stock its 20th largest holding. Adams Asset Advisors LLC's holdings in Verizon Communications were worth $10,176,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 1.2% during the first 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. grew its holdings in shares of Verizon Communications by 1.1% during the first 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 grew its holdings in shares of Verizon Communications by 303.9% during the first 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 grew its holdings in shares of Verizon Communications by 1.0% during the first 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 grew its holdings in shares of Verizon Communications by 8.0% during the first 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. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 0.3%

VZ opened at $43.99 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a market capitalization of $185.48 billion, a PE ratio of 10.25, a PEG ratio of 3.39 and a beta of 0.36. The firm's 50 day simple moving average is $43.22 and its two-hundred day simple moving average is $43.38.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results 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 for 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%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. 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. Verizon Communications's dividend payout ratio is currently 63.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VZ. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley increased 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. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective 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. Finally, Bank of America increased their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $47.65.

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).

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.