Chiron Capital Management LLC Increases Holdings in Verizon Communications Inc. $VZ

Key Points

• Chiron Capital Management LLC increased its holdings in Verizon Communications Inc. by 57.3%, acquiring an additional 13,703 shares in the 1st quarter, bringing its total to 37,634 shares valued at approximately $1.7 million.
• Verizon reported a net margin of 13.28% and revenue of $34.5 billion for the last quarter, surpassing estimates and showcasing a 5.2% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $0.6775, resulting in an annual yield of 6.1%, with a payout ratio of 63.17%.

Chiron Capital Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 57.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,634 shares of the cell phone carrier's stock after purchasing an additional 13,703 shares during the period. Verizon Communications makes up 1.6% of Chiron Capital Management LLC's portfolio, making the stock its 13th largest holding. Chiron Capital Management LLC's holdings in Verizon Communications were worth $1,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC boosted its stake in shares of Verizon Communications by 335.9% during the first quarter. Ashton Thomas Securities LLC now owns 25,279 shares of the cell phone carrier's stock valued at $1,146,000 after purchasing an additional 19,480 shares during the period. One Wealth Capital Management LLC lifted its holdings in Verizon Communications by 8.9% during the 1st quarter. One Wealth Capital Management LLC now owns 8,610 shares of the cell phone carrier's stock valued at $391,000 after buying an additional 706 shares in the last quarter. Ameriflex Group Inc. boosted its position in Verizon Communications by 29.1% in the 1st quarter. Ameriflex Group Inc. now owns 18,439 shares of the cell phone carrier's stock valued at $836,000 after buying an additional 4,161 shares during the period. Flputnam Investment Management Co. grew its stake in Verizon Communications by 4.1% in the 1st quarter. Flputnam Investment Management Co. now owns 249,638 shares of the cell phone carrier's stock worth $11,324,000 after acquiring an additional 9,785 shares in the last quarter. Finally, MAI Capital Management increased its position in shares of Verizon Communications by 1.3% during the first quarter. MAI Capital Management now owns 979,546 shares of the cell phone carrier's stock worth $44,432,000 after acquiring an additional 12,781 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 1.0%

VZ stock traded down $0.46 on Tuesday, hitting $43.78. 21,110,028 shares of the company's stock were exchanged, compared to its average volume of 14,573,251. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a 50 day moving average price of $43.09 and a two-hundred day moving average price of $43.30. 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 stock has a market cap of $184.57 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results 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. 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 analysts' expectations of $33.47 billion. During the same period last year, the business posted $1.15 earnings per share. The firm's 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. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's payout ratio is currently 63.17%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday. They set a "buy" rating and a $49.00 target price for the company. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. 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's stock. According to MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and an average price target of $47.44.

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).