Ameritas Advisory Services LLC Has $2.66 Million Holdings in Verizon Communications Inc. $VZ

Key Points

• Ameritas Advisory Services LLC reduced its holdings in Verizon Communications by 29.6%, now owning 61,360 shares worth approximately $2.66 million.
• Verizon reported $1.22 EPS for the last quarter, exceeding estimates, with revenues of $34.50 billion—a 5.2% increase from the previous year.
• The company plans to pay a dividend of $0.69 on November 3rd, reflecting an increase from the prior quarter and a yield of 6.3%.

Ameritas Advisory Services LLC reduced its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,360 shares of the cell phone carrier's stock after selling 25,774 shares during the period. Ameritas Advisory Services LLC's holdings in Verizon Communications were worth $2,655,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GQG Partners LLC increased its holdings in shares of 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 valued at $2,261,648,000 after acquiring an additional 37,516,167 shares during the last quarter. Nuveen LLC acquired a new position in shares of Verizon Communications during the 1st quarter valued at about $661,720,000. Pacer Advisors Inc. increased its holdings in shares of 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 valued at $530,576,000 after acquiring an additional 10,300,369 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Verizon Communications by 301.2% during the 1st quarter. Acadian Asset Management LLC now owns 8,504,920 shares of the cell phone carrier's stock valued at $385,750,000 after acquiring an additional 6,385,197 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of 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 valued at $1,434,572,000 after acquiring an additional 5,392,416 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.6%

Shares of VZ opened at $43.68 on Friday. The stock has a fifty day moving average price of $43.65 and a two-hundred day moving average price of $43.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a market cap of $184.17 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.35 and a beta of 0.37.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm 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 $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.3%. 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 is presently 63.17%.

Analysts Set New Price Targets

VZ has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Verizon Communications in a research note on Saturday, September 27th. Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Bank of America increased their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. increased their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and an average target price of $47.53.

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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