IFM Investors Pty Ltd Grows Stock Position in Verizon Communications Inc. $VZ

Key Points

• IFM Investors Pty Ltd has increased its stake in Verizon Communications by 2.9%, bringing its total holdings to 850,639 shares valued at approximately $36.8 million.
• Verizon's stock has seen a quarterly earnings report where it surpassed estimates with an EPS of $1.22 and revenue of $34.5 billion, leading to a **dividend increase** to $0.69 per share with a yield of 6.3%.
• Analyst ratings for Verizon have improved, with upgrades from several brokerages, raising the average price target to **$47.65**, reflecting a consensus rating of "Moderate Buy."

IFM Investors Pty Ltd grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850,639 shares of the cell phone carrier's stock after buying an additional 24,333 shares during the quarter. IFM Investors Pty Ltd's holdings in Verizon Communications were worth $36,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bernard Wealth Management Corp. lifted its position in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new stake in Verizon Communications during the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC lifted its holdings 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 worth $26,000 after acquiring an additional 244 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Trading Down 0.3%

VZ stock traded down $0.14 during mid-day trading on Friday, hitting $43.53. 29,150,933 shares of the company were exchanged, compared to its average volume of 15,901,778. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $183.54 billion, a P/E ratio of 10.15, a PEG ratio of 3.37 and a beta of 0.36. The business has a fifty day simple moving average of $43.35 and a 200-day simple moving average of $43.40. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating 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 company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities research 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 dividend of $0.69 per share. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. Verizon Communications's dividend payout ratio is currently 63.17%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VZ. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Bank of America increased their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

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).