Applied Finance Capital Management LLC Decreases Stock Position in Verizon Communications Inc. $VZ

Key Points

• Applied Finance Capital Management LLC has reduced its stake in Verizon Communications by 13.2%, now holding 611,583 shares valued at approximately $26.46 million, representing about 1.8% of its investment portfolio.
• Verizon Communications recently reported quarterly earnings of $1.22 per share, exceeding estimates, with revenues reaching $34.50 billion, up 5.2% year-over-year.
• The company declared an increase in its quarterly dividend to $0.69 per share, translating to an annualized dividend yield of 6.8%, with the payment scheduled for November 3rd.

Applied Finance Capital Management LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 611,583 shares of the cell phone carrier's stock after selling 92,793 shares during the quarter. Verizon Communications accounts for about 1.8% of Applied Finance Capital Management LLC's investment portfolio, making the stock its 19th largest holding. Applied Finance Capital Management LLC's holdings in Verizon Communications were worth $26,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC grew its holdings in shares of 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 worth $26,000 after purchasing an additional 244 shares during the last quarter. Bulwark Capital Corp purchased a new position in shares of Verizon Communications in the second quarter worth $25,000. 1 North Wealth Services LLC bought a new stake in Verizon Communications during the 1st quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new stake in Verizon Communications during the 1st quarter valued at $30,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

VZ stock opened at $40.38 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The company has a market cap of $170.26 billion, a P/E ratio of 9.41, a PEG ratio of 3.04 and a beta of 0.37. The firm has a 50-day moving average of $43.28 and a 200 day moving average of $43.13. 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 (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, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm's revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. 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 64.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Wall Street Zen lowered shares of Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Royal Bank Of Canada boosted 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. JPMorgan Chase & Co. increased their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Verizon Communications in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.63.

About Verizon Communications

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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