Mn Services Vermogensbeheer B.V. Has $68.26 Million Position in Verizon Communications Inc. $VZ

Key Points

• Mn Services Vermogensbeheer B.V. increased its position in Verizon Communications by 2.0% in Q2, owning 1,577,600 shares valued at approximately $68.26 million.
• Several institutional investors have raised their stakes in Verizon, with GQG Partners LLC significantly boosting its position by 303.9% in the first quarter.
• Verizon recently announced a quarterly dividend increase to $0.69 per share, reflecting an annualized dividend of $2.76 and a yield of 6.3%.

Mn Services Vermogensbeheer B.V. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,577,600 shares of the cell phone carrier's stock after buying an additional 31,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Verizon Communications were worth $68,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Verizon Communications by 1.2% during the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock worth $16,700,279,000 after buying an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Verizon Communications by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock worth $4,983,225,000 after buying an additional 1,172,175 shares during the period. GQG Partners LLC boosted its position in shares of Verizon Communications by 303.9% during the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock worth $2,261,648,000 after buying an additional 37,516,167 shares during the period. Northern Trust Corp boosted its position in Verizon Communications by 1.0% during the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after purchasing an additional 431,789 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Verizon Communications by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after purchasing an additional 3,100,342 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Price Performance

NYSE:VZ opened at $44.16 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average price is $43.28 and its two-hundred day moving average price is $43.40. The firm has a market capitalization of $186.19 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 3.37 and a beta of 0.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for 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 business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio is 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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