Farther Finance Advisors LLC Increases Stock Position in Verizon Communications Inc. $VZ

Key Points

• Farther Finance Advisors LLC increased its stake in Verizon Communications Inc. by 50.9%, acquiring an additional 40,260 shares to hold a total of 119,423 shares valued at approximately $5.167 million.
• Verizon has reported a quarterly earnings per share (EPS) of $1.22, surpassing analysts' expectations, and revealed that its revenue increased by 5.2% year-over-year, totaling $34.50 billion.
• The company announced a boost in its quarterly dividend from $0.68 to $0.69, representing a dividend yield of 6.3%, with the payment scheduled for November 3rd.

Farther Finance Advisors LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 50.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,423 shares of the cell phone carrier's stock after purchasing an additional 40,260 shares during the period. Farther Finance Advisors LLC's holdings in Verizon Communications were worth $5,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in VZ. Bernard Wealth Management Corp. lifted its position in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares in the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications during the first quarter worth $26,000. Cherry Tree Wealth Management LLC grew 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 valued at $26,000 after acquiring an additional 244 shares in the last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $25,000. Finally, 1 North Wealth Services LLC bought a new position in Verizon Communications during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Trading Down 0.3%

Shares of VZ stock traded down $0.14 on Friday, hitting $43.53. The stock had a trading volume of 29,150,933 shares, compared to its average volume of 16,403,802. The company's 50 day moving average price is $43.35 and its 200-day moving average price is $43.40. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The firm has a market capitalization of $183.54 billion, a P/E ratio of 10.15, a P/E/G ratio of 3.35 and a beta of 0.36.

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 for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last year, the business posted $1.15 earnings per share. Verizon Communications's 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. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is 63.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Bank of America raised 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. Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average target price of $47.65.

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).