Avior Wealth Management LLC Purchases 25,634 Shares of Verizon Communications Inc. $VZ

Key Points

• Avior Wealth Management LLC significantly increased its holdings in Verizon Communications by acquiring 25,634 shares, bringing its total shares to 40,882, valued at approximately $1.78 million.
• Verizon's stock recently experienced a 0.6% increase, with the company reporting a quarterly earnings per share (EPS) of $1.22, surpassing analyst expectations of $1.19.
• The company will increase its quarterly dividend to $0.69 per share, raising the annualized yield to 6.3%, with dividends to be paid on November 3rd.

Avior Wealth Management LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 168.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,882 shares of the cell phone carrier's stock after buying an additional 25,634 shares during the quarter. Avior Wealth Management LLC's holdings in Verizon Communications were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kestra Investment Management LLC lifted its position in Verizon Communications by 121.8% during the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier's stock worth $8,007,000 after buying an additional 96,931 shares in the last quarter. Element Capital Management LLC acquired a new position in shares of Verizon Communications during the first quarter worth approximately $2,799,000. Autumn Glory Partners LLC lifted its position in shares of Verizon Communications by 25.8% during the first quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier's stock worth $2,825,000 after purchasing an additional 12,760 shares in the last quarter. Davidson Trust Co. grew its stake in shares of Verizon Communications by 95.5% during the first quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier's stock valued at $1,215,000 after purchasing an additional 13,082 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC increased its holdings in shares of Verizon Communications by 68.4% in the first quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier's stock valued at $313,000 after purchasing an additional 2,802 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Up 0.6%

Shares of Verizon Communications stock opened at $43.60 on Monday. The business has a fifty day simple moving average of $43.57 and a 200 day simple moving average of $43.36. The stock has a market cap of $183.83 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. 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 Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations 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 was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.15 earnings per share. 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 EPS for the current year.

Verizon Communications Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on VZ. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price objective for the company. Finally, Bank of America upped their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and an average price target of $47.53.

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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