Focus Partners Wealth Has $36.10 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Focus Partners Wealth increased its stake in Verizon Communications by 4.7% during the 1st quarter, now holding 795,931 shares valued at approximately $36.10 million.
• Verizon Communications recently raised its quarterly dividend to $0.69 per share, reflecting an annualized yield of 6.3%, with the next payment scheduled for November 3rd.
• The company reported earnings per share of $1.22 for the last quarter, exceeding analyst expectations and marking a 5.2% increase in quarterly revenue compared to the previous year.

Focus Partners Wealth increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 795,931 shares of the cell phone carrier's stock after buying an additional 36,062 shares during the period. Focus Partners Wealth's holdings in Verizon Communications were worth $36,103,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Integrity Alliance LLC. bought a new stake in shares of Verizon Communications during the 1st quarter worth $2,103,000. Ransom Advisory Ltd bought a new stake in Verizon Communications in the 1st quarter valued at $741,000. Anchor Investment Management LLC boosted its holdings in Verizon Communications by 0.4% in the 1st quarter. Anchor Investment Management LLC now owns 117,635 shares of the cell phone carrier's stock valued at $5,336,000 after purchasing an additional 503 shares during the period. Ilmarinen Mutual Pension Insurance Co boosted its holdings in Verizon Communications by 6.4% in the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 638,500 shares of the cell phone carrier's stock valued at $28,962,000 after purchasing an additional 38,500 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in Verizon Communications by 9.8% in the 1st quarter. Plato Investment Management Ltd now owns 121,473 shares of the cell phone carrier's stock valued at $5,570,000 after purchasing an additional 10,801 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Down 0.2%

Shares of NYSE:VZ opened at $43.50 on Thursday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a 50 day moving average of $43.20 and a 200-day moving average of $43.37. 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 stock has a market cap of $183.40 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 3.36 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 for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the firm earned $1.15 EPS. Verizon Communications's quarterly 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. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is 63.17%.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research reports. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. 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 report on Tuesday, July 22nd. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.65.

Verizon Communications 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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