Foster & Motley Inc. Grows Stock Position in Verizon Communications Inc. $VZ

Key Points

• Foster & Motley Inc. increased its stake in Verizon Communications by 30.3%, acquiring an additional 32,054 shares to reach a total of 137,722 shares valued at approximately $5.96 million.
• Verizon reported a 5.2% year-over-year revenue increase to $34.50 billion for the quarter, surpassing analyst estimates, and announced a quarterly dividend of $0.69 per share.
• Analysts have given Verizon's stock a consensus rating of "Moderate Buy" with an average price target of $47.63, reflecting bullish outlooks from several research firms.

Foster & Motley Inc. lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 30.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137,722 shares of the cell phone carrier's stock after purchasing an additional 32,054 shares during the period. Foster & Motley Inc.'s holdings in Verizon Communications were worth $5,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kanawha Capital Management LLC boosted its stake in Verizon Communications by 3.5% in the second quarter. Kanawha Capital Management LLC now owns 236,338 shares of the cell phone carrier's stock valued at $10,226,000 after acquiring an additional 7,922 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Verizon Communications by 0.6% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 3,658,550 shares of the cell phone carrier's stock valued at $158,305,000 after acquiring an additional 20,910 shares in the last quarter. Easterly Investment Partners LLC increased its stake in Verizon Communications by 4.3% during the 2nd quarter. Easterly Investment Partners LLC now owns 401,881 shares of the cell phone carrier's stock worth $17,389,000 after buying an additional 16,545 shares during the period. Arista Wealth Management LLC bought a new stake in shares of Verizon Communications in the 2nd quarter worth about $778,000. Finally, Stratos Wealth Partners LTD. grew its position in shares of Verizon Communications by 4.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 332,475 shares of the cell phone carrier's stock valued at $14,386,000 after buying an additional 13,983 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Up 0.5%

VZ stock opened at $40.56 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $170.99 billion, a PE ratio of 9.45, a PEG ratio of 3.04 and a beta of 0.37. The stock has a 50-day simple moving average of $43.23 and a two-hundred day simple moving average of $43.10.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its 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. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Verizon Communications's revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed 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 6.8%. 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. Verizon Communications's payout ratio is 64.34%.

Analyst Ratings Changes

VZ has been the subject of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target for the company. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Bank of America lifted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Scotiabank upped their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the company a "sector perform" rating in a report on Monday, October 6th. Finally, Morgan Stanley increased their target price 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. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.63.

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).

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