GW Henssler & Associates Ltd. Sells 199,516 Shares of Verizon Communications Inc. $VZ

Key Points

• GW Henssler & Associates Ltd. reduced its stake in Verizon Communications Inc. by 31.4%, selling 199,516 shares and retaining a total of 436,461 shares valued at approximately $18.89 million.
• Verizon recently declared a quarterly dividend of $0.69 per share, an increase from the previous $0.68, resulting in an annualized dividend yield of 6.9%.
• As of now, Verizon's stock has a consensus rating of "Moderate Buy" with an average price target of $47.63, following recent adjustments by multiple brokerages.

GW Henssler & Associates Ltd. reduced its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 31.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,461 shares of the cell phone carrier's stock after selling 199,516 shares during the period. GW Henssler & Associates Ltd.'s holdings in Verizon Communications were worth $18,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock worth $16,700,279,000 after purchasing an additional 4,347,416 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Verizon Communications by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock worth $4,983,225,000 after acquiring an additional 1,172,175 shares during the last quarter. GQG Partners LLC boosted its stake in shares of Verizon Communications by 303.9% during the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock worth $2,261,648,000 after acquiring an additional 37,516,167 shares during the last quarter. Northern Trust Corp raised its position in shares of Verizon Communications by 1.0% during the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after purchasing an additional 431,789 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Verizon Communications by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after purchasing an additional 3,100,342 shares during the period. Institutional investors own 62.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VZ. Morgan Stanley lifted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of Verizon Communications in a report on Wednesday. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Scotiabank boosted their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the company a "sector perform" rating in a research report on Monday, October 6th. Finally, Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and an average price target of $47.63.

Verizon Communications Stock Down 2.4%

VZ stock opened at $39.86 on Friday. The firm's fifty day simple moving average is $43.48 and its 200-day simple moving average is $43.25. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a market capitalization of $168.05 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm 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 an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is 63.17%.

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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