DnB Asset Management AS Increases Holdings in Verizon Communications Inc. $VZ

Key Points

• DnB Asset Management AS increased its holdings in Verizon Communications Inc. by 3.2%, acquiring an additional 38,745 shares in the first quarter, bringing their total to 1,266,255 shares valued at approximately $57.4 million.
• Verizon's recent earnings showed a positive performance with an EPS of $1.22, surpassing analysts' estimates, and a revenue of $34.5 billion, reflecting a 5.2% year-over-year increase.
• Verizon has declared a dividend of $0.6775 per share, representing an annualized amount of $2.71 and a yield of 6.2%, placing its payout ratio at 63.17%.

DnB Asset Management AS raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,266,255 shares of the cell phone carrier's stock after acquiring an additional 38,745 shares during the period. DnB Asset Management AS's holdings in Verizon Communications were worth $57,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VZ. Brighton Jones LLC lifted its position in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after purchasing an additional 16,704 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in Verizon Communications in the 4th quarter worth $1,805,000. Crestline Management LP raised its stake in shares of Verizon Communications by 223.8% during the fourth quarter. Crestline Management LP now owns 84,560 shares of the cell phone carrier's stock valued at $3,382,000 after acquiring an additional 58,444 shares during the last quarter. Cornerstone Select Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth about $1,937,000. Finally, EP Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 22.9% during the fourth quarter. EP Wealth Advisors LLC now owns 141,518 shares of the cell phone carrier's stock valued at $5,659,000 after acquiring an additional 26,366 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 0.2%

Shares of Verizon Communications stock opened at $43.71 on Thursday. 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 Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a market cap of $184.28 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36. The company's 50 day moving average is $43.12 and its 200 day moving average is $43.31.

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, topping analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for 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 company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. 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 year.

Verizon Communications Dividend Announcement

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 $0.6775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.2%. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of research analyst reports. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Bank of America upped their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company increased their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.44.

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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