CW Advisors LLC Increases Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• CW Advisors LLC increased its holdings in Verizon Communications Inc. by 28.0% during the first quarter, now owning 642,203 shares worth approximately $28.99 million.
• Several analysts upgraded their price targets for Verizon, with estimates now ranging from $43.00 to $56.00, reflecting a positive outlook on the stock.
• Verizon reported quarterly earnings of $1.22 EPS and revenue of $34.50 billion, exceeding analyst expectations and marking a 5.2% increase year-over-year.

CW Advisors LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 28.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 642,203 shares of the cell phone carrier's stock after acquiring an additional 140,299 shares during the quarter. CW Advisors LLC's holdings in Verizon Communications were worth $28,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its stake in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares during the period. Garde Capital Inc. purchased a new position in Verizon Communications during the first quarter valued at $26,000. Cherry Tree Wealth Management LLC lifted its position 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 buying an additional 244 shares during the period. Accent Capital Management LLC purchased a new position in Verizon Communications during the first quarter valued at $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in Verizon Communications during the first quarter valued at $32,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Tigress Financial raised their price objective on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company raised their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. 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 report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.35.

Verizon Communications Trading Up 0.1%

Verizon Communications stock opened at $45.0070 on Thursday. The business has a 50-day simple moving average of $42.73 and a two-hundred day simple moving average of $43.04. The company has a market cap of $189.76 billion, a P/E ratio of 10.49, a P/E/G ratio of 3.47 and a beta of 0.36. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week 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.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results 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 business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. 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 year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.0%. Verizon Communications's payout ratio is 63.17%.

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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