Brave Asset Management Inc. Raises Position in Verizon Communications Inc. $VZ

Key Points

• Brave Asset Management Inc. increased its holdings in Verizon Communications by 33.1% during the second quarter, owning 27,553 shares worth approximately $1,192,000 at the end of the quarter.
• Analysts have a consensus rating of "Moderate Buy" for Verizon, with an average target price of $47.53, while recent price objectives from major firms range from $48.00 to $49.00.
• Verizon recently declared a quarterly dividend of $0.69, an increase from the previous $0.68, which equates to an annualized dividend of $2.76 and a yield of 6.4%.

Brave Asset Management Inc. grew its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 33.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,553 shares of the cell phone carrier's stock after acquiring an additional 6,853 shares during the period. Brave Asset Management Inc.'s holdings in Verizon Communications were worth $1,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. raised its position in 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 acquiring an additional 243 shares during the last quarter. Bulwark Capital Corp acquired a new position in shares of Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC raised its position in shares of 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 buying an additional 244 shares during the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new position in Verizon Communications during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley upped 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 raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Bank of America increased their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and an average target price of $47.53.

Verizon Communications Price Performance

VZ stock opened at $43.35 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The firm has a market capitalization of $182.79 billion, a PE ratio of 10.11, a P/E/G ratio of 3.33 and a beta of 0.36. The firm has a 50-day moving average of $43.51 and a two-hundred day moving average of $43.35.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current 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 a positive change 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 6.4%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio 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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