MAI Capital Management Has $44.43 Million Holdings in Verizon Communications Inc. $VZ

Key Points

• MAI Capital Management increased its holdings in Verizon Communications Inc. by 1.3%, acquiring an additional 12,781 shares, bringing their total to 979,546 shares worth approximately $44.4 million.
• Verizon reported a quarterly EPS of $1.22, beating estimates, and had a revenue of $34.5 billion, up 5.2% year-over-year.
• The company announced a quarterly dividend of $0.6775 per share, equating to a 6.1% yield, with a payout ratio of 63.17%.

MAI Capital Management grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 1.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 979,546 shares of the cell phone carrier's stock after acquiring an additional 12,781 shares during the quarter. MAI Capital Management's holdings in Verizon Communications were worth $44,432,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BridgePort Financial Solutions LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth $381,000. Element Capital Management LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth $2,799,000. Meyer Handelman Co. raised its stake in shares of Verizon Communications by 7.4% in the 1st quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier's stock worth $50,393,000 after buying an additional 76,083 shares in the last quarter. Rempart Asset Management Inc. raised its stake in shares of Verizon Communications by 52.8% in the 1st quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier's stock worth $14,079,000 after buying an additional 107,200 shares in the last quarter. Finally, Welch Group LLC raised its stake in shares of Verizon Communications by 5.9% in the 1st quarter. Welch Group LLC now owns 1,137,904 shares of the cell phone carrier's stock worth $51,126,000 after buying an additional 63,474 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Up 0.7%

Shares of VZ stock traded up $0.31 on Monday, reaching $44.24. 14,788,113 shares of the company's stock traded hands, compared to its average volume of 15,254,744. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a market capitalization of $186.53 billion, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36. The business's 50 day moving average price is $43.07 and its two-hundred day moving average price is $43.30.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating 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 business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. Verizon Communications'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. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VZ shares. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Bank of America boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Three research 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.com, Verizon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $47.35.

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).