Kathmere Capital Management LLC Grows Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• Kathmere Capital Management LLC increased its holdings in Verizon Communications by 12.2% during the second quarter, bringing its total to 82,879 shares valued at approximately $3.59 million.
• Verizon recently declared a quarterly dividend of $0.69, marking an increase from the previous $0.68, with a dividend yield of 6.3%.
• Analysts have revised their price targets for Verizon, with Bank of America and JPMorgan both raising theirs to $49.00, while the stock has a consensus rating of "Moderate Buy" according to MarketBeat.

Kathmere Capital Management LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 12.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,879 shares of the cell phone carrier's stock after acquiring an additional 9,020 shares during the period. Kathmere Capital Management LLC's holdings in Verizon Communications were worth $3,586,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after acquiring an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter worth $26,000. Cherry Tree Wealth Management LLC grew its position in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares during the period. Bulwark Capital Corp acquired a new stake in Verizon Communications during the second quarter valued at $25,000. Finally, 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the first quarter valued at $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.6%

Shares of NYSE VZ opened at $43.60 on Friday. The company's 50-day simple moving average is $43.57 and its 200-day simple moving average is $43.35. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The firm has a market cap of $183.83 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36. 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 announced its 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the business earned $1.15 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is 63.17%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America raised their price target 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. Wells Fargo & Company raised their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Verizon Communications has a consensus rating of "Moderate Buy" and an average price target of $47.53.

Verizon Communications Company 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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