Charter Capital Management LLC DE Makes New $561,000 Investment in Verizon Communications Inc. $VZ

Key Points

• Charter Capital Management LLC has made a new investment of approximately $561,000 in Verizon Communications Inc., acquiring 12,969 shares during the second quarter.
• Verizon reported better-than-expected quarterly earnings of $1.22 per share, surpassing analysts' estimates of $1.19, with revenue reaching $34.50 billion.
• The company announced a quarterly dividend increase to $0.69, representing a yield of 6.4%, and plans to pay this on November 3rd to investors of record.

Charter Capital Management LLC DE bought a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,969 shares of the cell phone carrier's stock, valued at approximately $561,000.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. boosted 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 purchasing an additional 243 shares during the period. Bulwark Capital Corp bought a new stake in Verizon Communications during the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC lifted its holdings in shares of 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 worth $26,000 after buying an additional 244 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications during the first quarter worth approximately $29,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $43.35 on Wednesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The firm has a market cap of $182.76 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 3.33 and a beta of 0.36. 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 business has a fifty day moving average of $43.43 and a 200-day moving average of $43.38.

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

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date is Friday, October 10th. 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 yield of 6.4%. Verizon Communications's dividend payout ratio is 63.17%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VZ shares. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.63.

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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