Verizon Communications Inc. $VZ Shares Sold by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. has reduced its stake in Verizon Communications Inc. by 39.5%, now holding 13,721 shares valued at approximately $622,000.
• Several institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., have increased their stakes in Verizon, indicating growing institutional interest in the stock.
• Verizon recently declared a quarterly dividend of $0.6775 per share, resulting in an annualized dividend yield of 6.1% and reflecting a dividend payout ratio of 63.17%.

Landscape Capital Management L.L.C. cut its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 39.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 13,721 shares of the cell phone carrier's stock after selling 8,961 shares during the period. Landscape Capital Management L.L.C.'s holdings in Verizon Communications were worth $622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BridgePort Financial Solutions LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $381,000. Element Capital Management LLC acquired a new position in Verizon Communications during the 1st quarter worth approximately $2,799,000. Meyer Handelman Co. lifted its position in Verizon Communications by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier's stock worth $50,393,000 after acquiring an additional 76,083 shares in the last quarter. Rempart Asset Management Inc. lifted its position in Verizon Communications by 52.8% during the 1st quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier's stock worth $14,079,000 after acquiring an additional 107,200 shares in the last quarter. Finally, Welch Group LLC increased its holdings in Verizon Communications by 5.9% during the 1st quarter. Welch Group LLC now owns 1,137,904 shares of the cell phone carrier's stock worth $51,126,000 after purchasing an additional 63,474 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

VZ stock traded up $0.31 during trading on Friday, reaching $44.24. 14,788,113 shares of the company's stock were exchanged, compared to its average volume of 15,254,744. 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 Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company's fifty day moving average price is $43.03 and its 200-day moving average price is $43.28. The firm has a market cap of $186.53 billion, a PE ratio of 10.31, a P/E/G ratio of 3.41 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly 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 company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm's quarterly revenue 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, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Thursday, July 10th. Verizon Communications's payout ratio is 63.17%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.35.

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).