MBB Public Markets I LLC Invests $335,000 in Verizon Communications Inc. $VZ

Key Points

• MBB Public Markets I LLC invested $335,000 in Verizon Communications by acquiring 7,380 shares in the first quarter.
• Verizon recently increased its quarterly dividend to $0.69, representing an annualized dividend of $2.76 and a yield of 6.2%.
• Analysts have shown positive sentiment towards Verizon, with multiple firms increasing their price targets, now averaging around $47.65, indicating a "Moderate Buy" consensus.

MBB Public Markets I LLC acquired a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,380 shares of the cell phone carrier's stock, valued at approximately $335,000.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. raised its position in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC raised its position in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter valued at $26,000. 1 North Wealth Services LLC purchased a new stake in Verizon Communications in the 1st quarter valued at $29,000. Finally, Accent Capital Management LLC purchased a new stake in Verizon Communications in the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped 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. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Stock Performance

NYSE:VZ opened at $44.32 on Monday. 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 fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock has a market cap of $186.88 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. The firm's fifty 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 posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. During the same period in the prior year, the company posted $1.15 EPS. The business's revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.2%. Verizon Communications's payout ratio is currently 63.17%.

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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