Ashton Thomas Securities LLC Purchases 19,480 Shares of Verizon Communications Inc. $VZ

Key Points

• Ashton Thomas Securities LLC increased its stake in Verizon Communications by 335.9%, acquiring an additional 19,480 shares during the first quarter, bringing their total to 25,279 shares valued at approximately $1.146 million.
• Verizon Communications reported a 5.2% year-over-year revenue increase for the latest quarter, posting earnings per share of $1.22, beating the consensus estimate of $1.19.
• Institutional investors currently own 62.06% of Verizon's stock, reflecting strong institutional interest in the company.

Ashton Thomas Securities LLC raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 335.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 25,279 shares of the cell phone carrier's stock after buying an additional 19,480 shares during the period. Ashton Thomas Securities LLC's holdings in Verizon Communications were worth $1,146,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Verizon Communications by 1.2% in 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 period. Charles Schwab Investment Management Inc. lifted its stake in Verizon Communications by 1.1% in 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 period. GQG Partners LLC lifted its stake in Verizon Communications by 303.9% in 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 period. Northern Trust Corp lifted its stake in Verizon Communications by 1.0% in 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Verizon Communications by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after buying an additional 4,568,518 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

VZ opened at $44.24 on Monday. The business's 50-day moving average price is $43.03 and its two-hundred day moving average price is $43.28. 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 $186.53 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 3.41 and a beta of 0.36. 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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications's payout ratio is currently 63.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Arete Research raised Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. 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. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Three equities research 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 company's stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and a consensus target price of $47.35.

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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