Candriam S.C.A. Increases Holdings in Verizon Communications Inc. $VZ

Key Points

• Candriam S.C.A. has increased its stake in Verizon Communications Inc. by 4.7%, acquiring 18,661 additional shares, bringing its total holdings to 413,409 shares valued at approximately $18.75 million.
• Verizon reported a quarterly earnings per share (EPS) of $1.22, which exceeded analyst expectations of $1.19, along with a revenue of $34.50 billion, marking a year-over-year increase of 5.2%.
• The company declared a quarterly dividend of $0.6775, resulting in an annualized dividend yield of 6.0% for investors.

Candriam S.C.A. raised its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413,409 shares of the cell phone carrier's stock after buying an additional 18,661 shares during the quarter. Candriam S.C.A.'s holdings in Verizon Communications were worth $18,752,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Bernard Wealth Management Corp. raised its stake in shares of Verizon Communications by 81.0% in the first 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 first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter valued at $26,000. Accent Capital Management LLC purchased a new stake in Verizon Communications during the first quarter valued at $30,000. Finally, Mattson Financial Services LLC increased its position in Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after acquiring an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE VZ opened at $45.0070 on Thursday. The stock has a market capitalization of $189.76 billion, a PE ratio of 10.49, a P/E/G ratio of 3.47 and a beta of 0.36. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The business has a 50 day simple moving average of $42.73 and a two-hundred day simple moving average of $43.04. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Tigress Financial upped their price target on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Scotiabank upped their price target on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $47.35.

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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