Krilogy Financial LLC Sells 7,986 Shares of Verizon Communications Inc. $VZ

Key Points

• Krilogy Financial LLC reduced its stake in Verizon Communications by 35.8%, selling 7,986 shares and retaining 14,328 shares worth approximately $620,000.
• Verizon reported a quarterly earnings per share of $1.22, surpassing analyst expectations, with revenue increasing 5.2% from the previous year to $34.50 billion.
• The company has announced a quarterly dividend increase to $0.69 per share, with a dividend yield of 6.3%, set to be paid on November 3rd.

Krilogy Financial LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 35.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,328 shares of the cell phone carrier's stock after selling 7,986 shares during the quarter. Krilogy Financial LLC's holdings in Verizon Communications were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. raised 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 worth $25,000 after purchasing an additional 243 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications during the 1st quarter worth approximately $26,000. Cherry Tree Wealth Management LLC raised its holdings in Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the period. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter valued at approximately $25,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE VZ opened at $43.76 on Wednesday. The firm's 50 day simple moving average is $43.25 and its 200 day simple moving average is $43.39. The firm has a market capitalization of $184.51 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 3.38 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. 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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the firm posted $1.15 earnings per share. Verizon Communications's revenue 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. As a group, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share 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 dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. 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%. Verizon Communications's payout ratio is 63.17%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on VZ shares. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group started coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Bank of America boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus price target 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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