Edmond DE Rothschild Holding S.A. Grows Holdings in Verizon Communications Inc. $VZ

Key Points

• Edmond DE Rothschild Holding S.A. increased its holdings in Verizon Communications Inc. by 22.0%, acquiring a total of 6,176,159 shares, making it the firm's largest investment.
• Verizon Communications reported a Q2 EPS of $1.22, exceeding analysts' expectations, and its quarterly revenue rose 5.2% year-over-year.
• The company declared a quarterly dividend of $0.6775 per share, reflecting a 6.2% yield and a payout ratio of 63.17%.

Edmond DE Rothschild Holding S.A. raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,176,159 shares of the cell phone carrier's stock after buying an additional 1,114,512 shares during the quarter. Verizon Communications accounts for 4.9% of Edmond DE Rothschild Holding S.A.'s investment portfolio, making the stock its largest holding. Edmond DE Rothschild Holding S.A. owned about 0.15% of Verizon Communications worth $280,151,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of VZ. Sargent Investment Group LLC grew its holdings in Verizon Communications by 3.3% during the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after buying an additional 230 shares in the last quarter. Crescent Sterling Ltd. lifted its holdings in Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after purchasing an additional 235 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after purchasing an additional 240 shares in the last quarter. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% during the 1st 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 in the last quarter. Finally, Cherry Tree Wealth Management LLC raised its holdings in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ 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. The business has a 50-day simple moving average of $43.12 and a two-hundred day simple moving average of $43.31. The stock has a market cap of $184.28 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.41 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.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business 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 dividend on an annualized basis and a yield of 6.2%. Verizon Communications's dividend payout ratio is presently 63.17%.

Wall Street Analyst Weigh In

Several analysts have weighed in on VZ shares. Wells Fargo & Company raised 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. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday. They set a "buy" rating and a $49.00 price target on the stock. Finally, Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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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