Evergreen Wealth Solutions LLC trimmed its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,500 shares of the cell phone carrier's stock after selling 7,061 shares during the period. Verizon Communications comprises 1.0% of Evergreen Wealth Solutions LLC's holdings, making the stock its 18th biggest holding. Evergreen Wealth Solutions LLC's holdings in Verizon Communications were worth $1,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. lifted 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. Cherry Tree Wealth Management LLC increased its stake in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter worth $26,000. Accent Capital Management LLC purchased a new stake in Verizon Communications during the first quarter worth $30,000. Finally, Mattson Financial Services LLC lifted its holdings in Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after purchasing an additional 415 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.
Verizon Communications Stock Performance
NYSE:VZ opened at $44.3840 on Monday. 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 fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock has a market cap of $187.14 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 3.43 and a beta of 0.36. The firm's fifty day simple moving average is $42.80 and its 200-day simple moving average is $43.15.
Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.
Verizon Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Thursday, July 10th. Verizon Communications's dividend payout ratio is presently 63.17%.
Analysts Set New Price Targets
Several equities analysts have issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Bank of America lifted 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. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Tigress Financial raised their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, April 28th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.35.
Check Out Our Latest Report on VZ
Verizon Communications Company Profile
(
Free Report)
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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