Verizon Communications Inc. $VZ Stake Lifted by HF Advisory Group LLC

Key Points

• HF Advisory Group LLC increased its stake in Verizon Communications by 8.9% during the second quarter, owning 97,912 shares valued at approximately $4.2 million.
• Verizon recently reported quarterly earnings of $1.22 EPS, exceeding analysts' expectations, along with a revenue of $34.5 billion, up 5.2% year-over-year.
• The company is set to increase its quarterly dividend from $0.68 to $0.69, representing a yield of 6.3% with an annualized payout of $2.76.

HF Advisory Group LLC lifted its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,912 shares of the cell phone carrier's stock after acquiring an additional 7,986 shares during the period. Verizon Communications makes up approximately 1.7% of HF Advisory Group LLC's investment portfolio, making the stock its 8th largest position. HF Advisory Group LLC's holdings in Verizon Communications were worth $4,237,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sargent Investment Group LLC boosted its position in shares of Verizon Communications by 3.3% during the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Crescent Sterling Ltd. grew its position in shares of Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after buying an additional 235 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after purchasing an additional 240 shares during the last quarter. Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its stake in shares of 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 period. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Morgan Stanley boosted 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. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Stock Down 0.9%

Shares of NYSE:VZ traded down $0.38 during mid-day trading on Monday, reaching $43.11. 6,741,655 shares of the stock were exchanged, compared to its average volume of 20,888,311. The company has a market cap of $181.74 billion, a P/E ratio of 10.04, a P/E/G ratio of 3.35 and a beta of 0.36. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The stock's 50 day simple moving average is $43.35 and its 200-day simple moving average is $43.40. 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 issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for 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 revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current 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 paid a dividend of $0.69 per share. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is 63.17%.

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).