Fiduciary Alliance LLC Has $1.41 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Fiduciary Alliance LLC increased its stake in Verizon Communications Inc. by 24.1%, owning 32,660 shares valued at $1.41 million after acquiring additional shares in the second quarter.
• Verizon Communications announced a quarterly dividend increase from $0.68 to $0.69 per share, yielding approximately 6.3%, with the ex-dividend date set for October 10th.
• The company reported $1.22 earnings per share for the last quarter, exceeding analysts' expectations, with projected earnings guidance for FY 2025 set between $4.636 and $4.728 EPS.

Fiduciary Alliance LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,660 shares of the cell phone carrier's stock after buying an additional 6,342 shares during the period. Fiduciary Alliance LLC's holdings in Verizon Communications were worth $1,413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VZ. Sargent Investment Group LLC raised its holdings 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 valued at $323,000 after buying an additional 230 shares during the last quarter. Crescent Sterling Ltd. increased its stake in shares of Verizon Communications by 0.8% in the 1st 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 increased its stake in shares of Verizon Communications by 0.3% in the 1st 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. increased its stake 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 increased its stake in Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Down 0.3%

Shares of NYSE VZ opened at $43.76 on Wednesday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The business's fifty day moving average price is $43.25 and its 200-day moving average price is $43.39. The stock has a market capitalization of $184.51 billion, a PE ratio of 10.20, a P/E/G ratio of 3.38 and a beta of 0.36.

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 (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 company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the company posted $1.15 EPS. The firm's revenue for the quarter 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. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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 boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications's dividend payout ratio is currently 63.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VZ shares. JPMorgan Chase & Co. upped their price target on 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 increased their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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).

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