Financial Strategies Group Inc. Decreases Stake in Verizon Communications Inc. $VZ

Key Points

• Financial Strategies Group Inc. decreased its holdings in Verizon Communications by 36.4%, now owning 123,279 shares worth approximately $5.48 million.
• Verizon's shares recently opened at $44.32, with a market cap of $186.88 billion and upcoming earnings guidance projecting a range of $4.636 to $4.728 EPS for FY 2025.
• Several hedge funds significantly increased their stakes in Verizon, with GQG Partners LLC reporting a 303.9% increase in their holdings during the first quarter.

Financial Strategies Group Inc. trimmed its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 36.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,279 shares of the cell phone carrier's stock after selling 70,521 shares during the period. Verizon Communications makes up about 1.3% of Financial Strategies Group Inc.'s holdings, making the stock its 24th biggest position. Financial Strategies Group Inc.'s holdings in Verizon Communications were worth $5,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VZ. GQG Partners LLC grew its position in Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after buying an additional 37,516,167 shares during the last quarter. Nuveen LLC purchased a new position in Verizon Communications in the 1st quarter valued at $661,720,000. Pacer Advisors Inc. grew its position in Verizon Communications by 737.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock valued at $530,576,000 after buying an additional 10,300,369 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Verizon Communications by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock valued at $1,434,572,000 after buying an additional 5,392,416 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Verizon Communications by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after buying an additional 4,568,518 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Shares of NYSE:VZ traded down $1.06 during midday trading on Monday, hitting $43.32. 30,230,465 shares of the stock were exchanged, compared to its average volume of 15,051,414. The stock has a market cap of $182.66 billion, a P/E ratio of 10.10, a PEG ratio of 3.42 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a 50 day moving average price of $43.20 and a 200-day moving average price of $43.37.

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 (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts forecast 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 paid 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 of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. Verizon Communications's dividend payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VZ. Morgan Stanley lifted their price objective 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. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Three equities 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

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).