Cwm LLC Buys 42,160 Shares of Verizon Communications Inc. $VZ

Key Points

• Cwm LLC has increased its stake in Verizon Communications Inc. by 3.3%, acquiring an additional 42,160 shares, bringing its total holdings to 1,307,571 shares valued at $56.58 million.
• Verizon recently reported a quarterly earnings per share (EPS) of $1.22, exceeding analysts' expectations, and announced a quarterly dividend of $0.69 per share, reflecting an annualized yield of 6.9%.
• Verizon's stock price is currently trading at approximately $39.86, with analysts giving it a consensus rating of "Moderate Buy" and a target price of $47.63.

Cwm LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,307,571 shares of the cell phone carrier's stock after acquiring an additional 42,160 shares during the quarter. Cwm LLC's holdings in Verizon Communications were worth $56,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Brighton Jones LLC boosted its stake in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after acquiring an additional 16,704 shares in the last quarter. GAMMA Investing LLC boosted its stake in Verizon Communications by 14.7% during the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier's stock worth $3,114,000 after acquiring an additional 8,800 shares in the last quarter. Krilogy Financial LLC boosted its stake in Verizon Communications by 14.5% during the first quarter. Krilogy Financial LLC now owns 22,314 shares of the cell phone carrier's stock worth $1,012,000 after acquiring an additional 2,833 shares in the last quarter. Signature Resources Capital Management LLC boosted its stake in Verizon Communications by 13.0% during the first quarter. Signature Resources Capital Management LLC now owns 3,688 shares of the cell phone carrier's stock worth $167,000 after acquiring an additional 425 shares in the last quarter. Finally, Powers Advisory Group LLC boosted its stake in Verizon Communications by 4.9% during the first quarter. Powers Advisory Group LLC now owns 13,155 shares of the cell phone carrier's stock worth $597,000 after acquiring an additional 613 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Down 2.4%

Shares of VZ stock opened at $39.86 on Friday. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. 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 company has a 50-day simple moving average of $43.48 and a two-hundred day simple moving average of $43.25. The company has a market capitalization of $168.05 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the firm posted $1.15 EPS. 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. Research analysts anticipate 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. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is currently 63.17%.

Analysts Set New Price Targets

VZ has been the topic of several research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Verizon Communications in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen cut shares of Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price objective for the company. Finally, Morgan Stanley lifted their price objective 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. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock 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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