Groupe la Francaise Trims Stock Position in Verizon Communications Inc. $VZ

Key Points

• Groupe la Francaise reduced its stake in Verizon Communications Inc. by 74.7%, selling 141,023 shares in the first quarter, leaving them with 47,641 shares worth approximately $2.14 million.
• Verizon's stock recently decreased by 1.4%, with a current price of $44.38, and it has seen earnings per share of $1.22 for the last quarter, surpassing analyst expectations.
• Several analysts have upgraded their ratings for Verizon, with Bank of America and Morgan Stanley raising their price targets to $49.00 and $48.00 respectively.

Groupe la Francaise lessened its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 74.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,641 shares of the cell phone carrier's stock after selling 141,023 shares during the quarter. Groupe la Francaise's holdings in Verizon Communications were worth $2,142,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. raised its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the period. Garde Capital Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC increased its holdings in Verizon Communications by 71.8% in the 1st 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 during the last quarter. Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 1.4%

Verizon Communications stock opened at $44.3840 on Monday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock's fifty day simple moving average is $42.80 and its 200-day simple moving average is $43.15. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $187.14 billion, a P/E ratio of 10.35, a P/E/G ratio of 3.43 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications's payout ratio is presently 63.17%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VZ. Bank of America lifted their target price 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. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Tigress Financial increased their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three investment 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.35.

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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