Farther Finance Advisors LLC Has $5.17 Million 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 boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 50.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,423 shares of the cell phone carrier's stock after purchasing an additional 40,260 shares during the quarter. Farther Finance Advisors LLC's holdings in Verizon Communications were worth $5,167,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after acquiring an additional 16,704 shares in the last quarter. State of Wyoming raised its holdings in shares of Verizon Communications by 94.0% during the 4th quarter. State of Wyoming now owns 4,422 shares of the cell phone carrier's stock worth $177,000 after buying an additional 2,143 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Verizon Communications during the 4th quarter worth $1,608,000. Fourth Dimension Wealth LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth $130,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of Verizon Communications during the 4th quarter worth $52,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

VZ traded down $0.28 on Monday, reaching $43.21. The stock had a trading volume of 18,496,468 shares, compared to its average volume of 20,955,561. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The firm has a 50-day moving average of $43.35 and a 200-day moving average of $43.40. 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 company has a market capitalization of $182.17 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth 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 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The business's revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is currently 63.17%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Bank of America boosted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. Finally, Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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).