Arvest Investments Inc. Grows Position in Verizon Communications Inc. $VZ

Arvest Investments Inc. grew its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 1,638.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,662 shares of the cell phone carrier's stock after acquiring an additional 10,991 shares during the period. Arvest Investments Inc.'s holdings in Verizon Communications were worth $505,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications during the 1st quarter valued at about $26,000. Cherry Tree Wealth Management LLC lifted its holdings in 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 during the period. 1 North Wealth Services LLC purchased a new stake in Verizon Communications during the first quarter worth $29,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $30,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 0.3%

Shares of NYSE:VZ opened at $43.99 on Monday. The company has a market capitalization of $185.48 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 3.39 and a beta of 0.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The business has a 50-day moving average price of $43.22 and a 200 day moving average price of $43.38. 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 (NYSE:VZ - Get Free Report) last announced its 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the firm posted $1.15 earnings per share. Verizon Communications's revenue 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. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.3%. Verizon Communications's payout ratio is 63.17%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price on the stock. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" 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. Based on data from MarketBeat.com, the stock presently has an average 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).

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