Epoch Investment Partners Inc. Increases Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• Epoch Investment Partners Inc. increased its holdings in Verizon Communications by 10.1%, owning over 2 million shares worth approximately $91.2 million as of the recent SEC filing.
• Verizon reported earnings per share (EPS) of $1.22 for the last quarter, exceeding estimates, with a revenue of $34.5 billion marking a 5.2% increase year-over-year.
• The company announced a quarterly dividend of $0.6775 per share, contributing to an annualized dividend yield of 6.1% and a payout ratio of 63.17%.

Epoch Investment Partners Inc. increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,010,403 shares of the cell phone carrier's stock after purchasing an additional 184,435 shares during the period. Epoch Investment Partners Inc.'s holdings in Verizon Communications were worth $91,192,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Sargent Investment Group LLC increased its position in shares of Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after purchasing an additional 230 shares during the last quarter. Crescent Sterling Ltd. grew its position in Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after acquiring an additional 235 shares during the last quarter. Providence Capital Advisors LLC grew its position in Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after acquiring an additional 240 shares during the last quarter. Bernard Wealth Management Corp. grew its position 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 valued at $25,000 after acquiring an additional 243 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC grew 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 acquiring an additional 244 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Bank of America increased their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three investment 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 company's stock. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of "Moderate Buy" and an average target price of $47.35.

Verizon Communications Trading Up 0.7%

Shares of NYSE:VZ traded up $0.30 during trading on Wednesday, reaching $44.26. 12,040,042 shares of the company traded hands, compared to its average volume of 16,105,304. The firm has a market capitalization of $186.62 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 3.39 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 current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The business's fifty day moving average is $42.93 and its 200-day moving average is $43.19.

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 for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, analysts forecast 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. Investors of record on Thursday, July 10th were paid a $0.6775 dividend. 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 6.1%. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

About Verizon Communications

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).