BDF Gestion Cuts Position in Verizon Communications Inc. $VZ

Key Points

• BDF Gestion reduced its investment in Verizon Communications Inc. by 9.8%, owning 185,572 shares after selling 20,218 shares, making Verizon about 0.9% of its portfolio.
• Verizon Communications recently announced a quarterly dividend increase to $0.69, representing an annual yield of 6.3%, which is a rise from the previous $0.68 dividend.
• Wall Street analysts have mixed ratings on Verizon, with a consensus of "Moderate Buy"** and a target price of $47.65, while noting an increase in price targets from firms like JPMorgan Chase and Wells Fargo.

BDF Gestion trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 9.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 185,572 shares of the cell phone carrier's stock after selling 20,218 shares during the period. Verizon Communications comprises about 0.9% of BDF Gestion's portfolio, making the stock its 17th biggest position. BDF Gestion's holdings in Verizon Communications were worth $8,030,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. increased its stake in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares during the period. Bulwark Capital Corp acquired a new position in Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC boosted 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 purchasing an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new position in Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wells Fargo & Company upped their price target on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Trading Down 0.3%

NYSE:VZ opened at $43.53 on Friday. The stock has a fifty day moving average price of $43.35 and a two-hundred day moving average price of $43.40. The stock has a market capitalization of $183.54 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 3.37 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion during 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%.Verizon Communications's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. 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 dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

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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