Curi RMB Capital LLC Boosts Stake in Verizon Communications Inc. $VZ

Key Points

• Curi RMB Capital LLC increased its stake in Verizon Communications by 4.1%, holding 340,542 shares now worth approximately $15.4 million.
• Several analysts have revised their price targets for Verizon, with estimates now ranging from $46.00 to $49.00, while the consensus rating for the stock is classified as a "Moderate Buy."
• Verizon announced a quarterly dividend of $0.6775 per share, representing an annualized yield of 6.2%, highlighting its ongoing commitment to returning value to shareholders.

Curi RMB Capital LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 340,542 shares of the cell phone carrier's stock after acquiring an additional 13,406 shares during the period. Curi RMB Capital LLC's holdings in Verizon Communications were worth $15,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its stake 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 last quarter. Cherry Tree Wealth Management LLC raised its holdings in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications in the 1st quarter worth approximately $26,000. 1 North Wealth Services LLC bought a new stake in Verizon Communications in the 1st quarter worth approximately $29,000. Finally, Accent Capital Management LLC purchased a new stake in Verizon Communications in the first quarter worth approximately $30,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on VZ. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Bank of America raised their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.44.

Verizon Communications Trading Down 0.2%

Shares of VZ opened at $43.71 on Thursday. The stock has a market capitalization of $184.28 billion, a P/E ratio of 10.19, a PEG ratio of 3.41 and a beta of 0.36. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a fifty day simple moving average of $43.12 and a two-hundred day simple moving average of $43.31.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.2%. Verizon Communications's dividend payout ratio is presently 63.17%.

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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