Kiley Juergens Wealth Management LLC Buys 10,554 Shares of Verizon Communications Inc. $VZ

Key Points

• Kiley Juergens Wealth Management LLC increased its holdings in Verizon Communications by 55.4% during the second quarter, now owning 29,593 shares valued at approximately $1,280,000.
• Verizon recently reported a quarterly EPS of $1.22, exceeding estimates, and a revenue of $34.50 billion, marking a 5.2% year-over-year growth.
• The company declared a quarterly dividend increase to $0.69 per share, with a yield of 6.3%, payable on November 3rd.

Kiley Juergens Wealth Management LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 55.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,593 shares of the cell phone carrier's stock after purchasing an additional 10,554 shares during the period. Kiley Juergens Wealth Management LLC's holdings in Verizon Communications were worth $1,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares during the last quarter. Two Sigma Advisers LP bought a new position in Verizon Communications in the 4th quarter worth $1,608,000. Mascagni Wealth Management Inc. purchased a new stake in Verizon Communications in the 4th quarter worth $46,000. Versant Capital Management Inc increased its stake in Verizon Communications by 50.7% in the 1st quarter. Versant Capital Management Inc now owns 12,110 shares of the cell phone carrier's stock worth $549,000 after buying an additional 4,073 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Verizon Communications by 31.8% in the first quarter. Central Pacific Bank Trust Division now owns 14,823 shares of the cell phone carrier's stock worth $672,000 after buying an additional 3,574 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.60 on Friday. The firm has a 50 day simple moving average of $43.57 and a 200-day simple moving average of $43.35. 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 firm has a market cap of $183.83 billion, a PE ratio of 10.16, a P/E/G ratio of 3.35 and a beta of 0.36. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during 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%. Verizon Communications's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications's payout ratio is 63.17%.

Analysts Set New Price Targets

Several brokerages have issued reports on VZ. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. 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 on the stock. Wall Street Zen downgraded shares of Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of 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, JPMorgan Chase & Co. increased 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. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average price target of $47.53.

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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