Caxton Associates LLP Takes $1.93 Million Position in Verizon Communications Inc. $VZ

Key Points

• Caxton Associates LLP has acquired a new position in Verizon Communications with an investment of approximately $1.93 million, purchasing 42,610 shares during the first quarter.
• Verizon recently posted earnings of $1.22 EPS, surpassing analysts' expectations, and reported a revenue increase of 5.2% year-over-year.
• The company announced a quarterly dividend increase to $0.69, with an upcoming ex-dividend date on October 10th, representing a 6.4% yield.

Caxton Associates LLP purchased a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 42,610 shares of the cell phone carrier's stock, valued at approximately $1,933,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sargent Investment Group LLC grew its position in 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 worth $323,000 after purchasing an additional 230 shares during the last quarter. Crescent Sterling Ltd. boosted its holdings in Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after buying an additional 235 shares in the last quarter. Providence Capital Advisors LLC boosted its holdings in Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after buying an additional 240 shares in the last quarter. Bernard Wealth Management Corp. boosted its holdings 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 buying an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its holdings 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 purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Down 2.4%

NYSE VZ opened at $43.32 on Tuesday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a 50-day moving average of $43.20 and a 200-day moving average of $43.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The company has a market cap of $182.66 billion, a P/E ratio of 10.10, a P/E/G ratio of 3.42 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 (EPS) 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 during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The company'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. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced 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 is a boost from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's dividend payout ratio is 63.17%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Bank of America lifted their price target on shares of Verizon Communications from $45.00 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 note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target 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. Finally, Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three equities research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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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