Ariel Investments LLC Raises Position in Verizon Communications Inc. $VZ

Key Points

• Ariel Investments LLC increased its holdings in Verizon Communications by 5.4% during the 1st quarter, resulting in a total of 1,425,207 shares valued at approximately $64.6 million.
• Verizon recently reported quarterly earnings of $1.22 EPS, exceeding analysts' expectations, with revenue of $34.50 billion reflecting a year-over-year increase of 5.2%.
• The company declared a quarterly dividend of $0.6775 per share, yielding 6.2%, with a payout ratio of 63.17% of earnings.

Ariel Investments LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,425,207 shares of the cell phone carrier's stock after acquiring an additional 72,515 shares during the quarter. Ariel Investments LLC's holdings in Verizon Communications were worth $64,647,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. boosted its holdings in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC lifted its position 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 valued at $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter worth about $26,000. 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the 1st quarter worth $29,000. Finally, Accent Capital Management LLC purchased a new stake in Verizon Communications in the 1st quarter valued at about $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $43.78 on Wednesday. The company has a market cap of $184.57 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 3.41 and a beta of 0.36. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The business has a 50 day moving average price of $43.09 and a 200 day moving average price of $43.30. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last year, the company earned $1.15 EPS. The company's quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VZ shares. Royal Bank Of Canada increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Bank of America boosted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.44.

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).

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