BOS Asset Management LLC Raises Position in Verizon Communications Inc. $VZ

Key Points

• BOS Asset Management LLC increased its holdings in Verizon Communications by 34.5%, acquiring an additional 6,411 shares worth approximately $1.134 million.
• Verizon announced a quarterly dividend of $0.69, up from $0.68, with a dividend yield of 6.3% set for payment on November 3rd.
• Analysts have generally rated Verizon with a "Moderate Buy," with an average price target of $47.65, as various brokerages adjust their pricing targets following the company’s recent earnings report.

BOS Asset Management LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,996 shares of the cell phone carrier's stock after acquiring an additional 6,411 shares during the quarter. BOS Asset Management LLC's holdings in Verizon Communications were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Sargent Investment Group LLC raised its position in shares of Verizon Communications by 3.3% during the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after purchasing an additional 230 shares during the period. Crescent Sterling Ltd. raised its position in shares of Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after purchasing an additional 235 shares during the period. Providence Capital Advisors LLC raised its position in shares of Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after purchasing an additional 240 shares during the period. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the period. Finally, Cherry Tree Wealth Management LLC raised its position in shares of 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 valued at $26,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $43.50 on Thursday. The firm's fifty day moving average is $43.20 and its two-hundred day moving average is $43.37. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. 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 $183.40 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.36 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the firm posted $1.15 EPS. The business's quarterly 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. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm 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 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 dividend on an annualized basis and a dividend yield of 6.3%. Verizon Communications's payout ratio is presently 63.17%.

Analyst Ratings Changes

Several brokerages have recently commented on VZ. JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Morgan Stanley lifted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.65.

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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