Generali Asset Management SPA SGR Cuts Stake in Verizon Communications Inc. $VZ

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Verizon Communications by 18.0%, selling 87,916 shares, leaving them with 400,563 shares valued at $17.33 million as per their most recent SEC filing.
• Verizon reported $1.22 EPS in its latest earnings, exceeding analysts' expectations, with quarterly revenues of $34.50 billion, marking a 5.2% increase compared to the previous year.
• The company announced a quarterly dividend increase to $0.69 per share, reflecting a 6.8% yield, with payment scheduled for November 3rd.

Generali Asset Management SPA SGR reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 18.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,563 shares of the cell phone carrier's stock after selling 87,916 shares during the quarter. Generali Asset Management SPA SGR's holdings in Verizon Communications were worth $17,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC grew its holdings in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter worth $26,000. 1 North Wealth Services LLC purchased a new stake in Verizon Communications during the first quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new position in Verizon Communications during the first quarter valued at $30,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Up 2.1%

Shares of NYSE VZ opened at $40.57 on Wednesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The firm has a market cap of $171.04 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. The business has a fifty day simple moving average of $43.37 and a two-hundred day simple moving average of $43.19. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.8%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is currently 64.34%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of analyst reports. Bank of America increased their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Verizon Communications in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company increased their price target on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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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