Greenleaf Trust Reduces Holdings in Verizon Communications Inc. $VZ

Key Points

• Greenleaf Trust has reduced its stake in Verizon Communications by 7.5%, selling 6,379 shares and now owning 78,994 shares valued at approximately $3.4 million.
• Verizon reported earnings of $1.22 per share for the last quarter, surpassing analysts' expectations, and expects an FY 2025 EPS guidance between 4.636 and 4.728.
• The company recently declared a quarterly dividend of $0.69, up from the previous $0.68, reflecting a 6.3% annual yield.

Greenleaf Trust trimmed its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,994 shares of the cell phone carrier's stock after selling 6,379 shares during the period. Greenleaf Trust's holdings in Verizon Communications were worth $3,418,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. XML Financial LLC lifted its position in Verizon Communications by 3.9% during the 2nd quarter. XML Financial LLC now owns 169,405 shares of the cell phone carrier's stock valued at $7,330,000 after acquiring an additional 6,411 shares during the period. HCR Wealth Advisors lifted its position in Verizon Communications by 8.2% during the 2nd quarter. HCR Wealth Advisors now owns 11,827 shares of the cell phone carrier's stock valued at $512,000 after acquiring an additional 894 shares during the period. Capital Investment Advisors LLC lifted its position in Verizon Communications by 4.4% during the 2nd quarter. Capital Investment Advisors LLC now owns 681,188 shares of the cell phone carrier's stock valued at $29,475,000 after acquiring an additional 28,539 shares during the period. Centennial Wealth Advisory LLC lifted its position in Verizon Communications by 5.1% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 23,052 shares of the cell phone carrier's stock valued at $999,000 after acquiring an additional 1,128 shares during the period. Finally, Presper Financial Architects LLC purchased a new position in Verizon Communications during the 2nd quarter valued at about $236,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 1.6%

NYSE:VZ opened at $43.95 on Wednesday. The firm has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $43.36. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The firm has a market cap of $185.31 billion, a P/E ratio of 10.24, a P/E/G ratio of 3.34 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the business posted $1.15 earnings per share. The business'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. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business 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 $0.69 dividend. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Morgan Stanley raised 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 note on Tuesday, July 22nd. Bank of America raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Verizon Communications has an average rating of "Moderate Buy" and an average target price of $47.53.

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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