CapWealth Advisors LLC Purchases 13,738 Shares of Verizon Communications Inc. $VZ

Key Points

• CapWealth Advisors LLC increased its holdings in Verizon Communications Inc. by 3.6% in the second quarter by purchasing an additional 13,738 shares, bringing its total ownership to 396,924 shares valued at $17.17 million.
• Verizon's recent quarterly earnings showed a profit of $1.22 EPS, surpassing expectations of $1.19 EPS and reflecting a year-over-year revenue increase of 5.2% to $34.50 billion.
• The company declared a quarterly dividend of $0.69, which represents an annualized yield of 6.8%, marking an increase from the previous dividend of $0.68.

CapWealth Advisors LLC grew its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 396,924 shares of the cell phone carrier's stock after acquiring an additional 13,738 shares during the quarter. Verizon Communications accounts for about 1.7% of CapWealth Advisors LLC's holdings, making the stock its 28th largest position. CapWealth Advisors LLC's holdings in Verizon Communications were worth $17,175,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of VZ. Bulwark Capital Corp bought a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC lifted its position in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $26,000. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $29,000. Finally, Accent Capital Management LLC acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $30,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Up 0.5%

Shares of VZ opened at $40.56 on Friday. The stock has a fifty day moving average price of $43.23 and a two-hundred day moving average price of $43.10. 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 52-week low of $37.58 and a 52-week high of $47.35. The company has a market cap of $170.99 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 3.04 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last issued 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. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is presently 64.34%.

Analyst Ratings Changes

Several equities analysts recently commented on VZ shares. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Scotiabank raised their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a "sector perform" rating in a research report on Monday, October 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Verizon Communications in a research report on Wednesday, October 8th. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.63.

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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