MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 232,318 Shares of Verizon Communications Inc. $VZ

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Verizon Communications by an impressive 4,257.2%, acquiring 232,318 additional shares in the 2nd quarter.
• The company reported a quarterly EPS of $1.22, exceeding analysts' expectations, along with a 5.2% increase in revenue compared to the same quarter last year.
• Verizon has declared a quarterly dividend of $0.69 per share, reflecting an increase from the previous dividend and an annual yield of 6.4%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4,257.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,775 shares of the cell phone carrier's stock after buying an additional 232,318 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Verizon Communications were worth $10,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its stake in 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 last quarter. Bulwark Capital Corp bought a new stake in Verizon Communications during the second quarter worth $25,000. Cherry Tree Wealth Management LLC lifted its stake in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications during the first quarter worth $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications during the first quarter worth $29,000. 62.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.53.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $43.21 on Thursday. The business has a 50-day moving average price of $43.47 and a two-hundred day moving average price of $43.38. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market cap of $182.17 billion, a P/E ratio of 10.07, a PEG ratio of 3.34 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm's revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

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

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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