Intech Investment Management LLC Buys 49,664 Shares of Verizon Communications Inc. $VZ

Key Points

• Intech Investment Management LLC increased its stake in Verizon Communications Inc. by 20.8%, acquiring an additional 49,664 shares during the first quarter, bringing its total holdings to 288,293 shares valued at approximately $13 million.
• Verizon Communications has announced a quarterly dividend increase to $0.69 per share, which will be paid on November 3rd, representing a yield of 6.3%.
• Analysts have raised their price targets for Verizon, with recent adjustments indicating a target range between $46.00 and $49.00, while maintaining a consensus rating of "Moderate Buy."

Intech Investment Management LLC grew its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 20.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,293 shares of the cell phone carrier's stock after purchasing an additional 49,664 shares during the quarter. Intech Investment Management LLC's holdings in Verizon Communications were worth $13,077,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Focus Partners Wealth lifted its holdings in shares of Verizon Communications by 4.7% in the first quarter. Focus Partners Wealth now owns 795,931 shares of the cell phone carrier's stock valued at $36,103,000 after purchasing an additional 36,062 shares in the last quarter. Integrity Alliance LLC. bought a new position in shares of Verizon Communications in the first quarter valued at approximately $2,103,000. Ransom Advisory Ltd bought a new position in shares of Verizon Communications in the first quarter valued at approximately $741,000. Anchor Investment Management LLC lifted its holdings in shares of Verizon Communications by 0.4% in the first quarter. Anchor Investment Management LLC now owns 117,635 shares of the cell phone carrier's stock valued at $5,336,000 after purchasing an additional 503 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Verizon Communications by 6.4% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 638,500 shares of the cell phone carrier's stock valued at $28,962,000 after purchasing an additional 38,500 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.50 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The business has a fifty day simple moving average of $43.20 and a two-hundred day simple moving average of $43.37. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The company has a market capitalization of $183.40 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.36 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its 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. 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 during the quarter, compared to the consensus estimate of $33.47 billion. During the same period last 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. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

Analyst Ratings Changes

A number of analysts recently commented on VZ shares. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group started coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

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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