Logan Capital Management Inc. Grows Stock Position in Verizon Communications Inc. $VZ

Key Points

• Logan Capital Management Inc. increased its holdings in Verizon Communications by 162.8%, owning 333,710 shares valued at $15.1 million after acquiring 206,738 shares in the first quarter.
• Verizon announced a quarterly dividend increase to $0.69 per share, representing a 6.4% yield, with the ex-dividend date set for October 10th.
• The company reported $1.22 EPS for the last quarter, exceeding estimates and marking a 5.2% increase in revenue year-over-year.

Logan Capital Management Inc. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 162.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,710 shares of the cell phone carrier's stock after buying an additional 206,738 shares during the quarter. Logan Capital Management Inc.'s holdings in Verizon Communications were worth $15,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. HFM Investment Advisors LLC purchased a new position in Verizon Communications during the first quarter worth about $43,000. MBB Public Markets I LLC purchased a new position in shares of Verizon Communications in the 1st quarter worth about $335,000. Coppell Advisory Solutions LLC raised its holdings in shares of Verizon Communications by 61.2% in the 1st quarter. Coppell Advisory Solutions LLC now owns 20,670 shares of the cell phone carrier's stock worth $888,000 after purchasing an additional 7,847 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Verizon Communications by 186.0% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 658,069 shares of the cell phone carrier's stock worth $29,850,000 after purchasing an additional 427,963 shares during the period. Finally, Arete Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 1.3% in the 1st quarter. Arete Wealth Advisors LLC now owns 68,502 shares of the cell phone carrier's stock worth $3,107,000 after purchasing an additional 905 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $43.32 on Tuesday. The company has a market cap of $182.66 billion, a P/E ratio of 10.10, a PEG ratio of 3.42 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The business's 50-day simple moving average is $43.20 and its 200 day simple moving average is $43.37.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

Analyst Ratings Changes

A number of research firms have recently commented on VZ. Royal Bank Of Canada raised 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. JPMorgan Chase & Co. raised 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. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Morgan Stanley raised 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. Finally, Bank of America raised 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. 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 stock. According to data from MarketBeat, the company currently has an average 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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