Belpointe Asset Management LLC Has $4.11 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Belpointe Asset Management LLC reduced its stake in Verizon Communications Inc. by 22.2%, holding 90,571 shares valued at $4.11 million after selling 25,834 shares in Q1.
• Verizon announced a quarterly dividend increase to $0.69 per share, representing an annual yield of 6.3%, with the dividend payable on November 3rd.
• Analysts have shown a positive outlook for Verizon, with price target upgrades from firms like JPMorgan and Bank of America, contributing to an average rating of "Moderate Buy".

Belpointe Asset Management LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,571 shares of the cell phone carrier's stock after selling 25,834 shares during the quarter. Belpointe Asset Management LLC's holdings in Verizon Communications were worth $4,108,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth $26,000. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the first quarter valued at about $29,000. Finally, Accent Capital Management LLC bought a new stake in shares of Verizon Communications in the first quarter valued at about $30,000. Institutional investors own 62.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VZ shares. Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Three investment 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Trading Up 0.5%

Shares of VZ stock opened at $43.55 on Wednesday. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock's fifty day moving average price is $43.20 and its two-hundred day moving average price is $43.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a market cap of $183.62 billion, a PE ratio of 10.15, a P/E/G ratio of 3.34 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $33.47 billion. During the same quarter in the previous year, the firm earned $1.15 EPS. Verizon Communications's 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. Equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

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

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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