Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Sells 31,479 Shares of Verizon Communications Inc. $VZ

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. reduced its holdings in Verizon Communications Inc. by 8.4%, selling 31,479 shares, and now holds 344,087 shares valued at approximately $14.9 million.
• Several analysts have given mixed ratings on Verizon, with Arete Research upgrading it to a "strong-buy," while others like Wall Street Zen have downgraded it to a "hold," resulting in an average rating of "Moderate Buy."
• Verizon Communications announced a quarterly dividend increase to $0.69, equating to an annualized dividend yield of 6.9%, while it also reported a 5.2% revenue increase year-over-year.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lowered its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,087 shares of the cell phone carrier's stock after selling 31,479 shares during the period. Verizon Communications makes up about 1.7% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings, making the stock its 21st biggest position. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Verizon Communications were worth $14,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sargent Investment Group LLC grew its position in shares of Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after purchasing an additional 230 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after buying an additional 240 shares in the last quarter. Bernard Wealth Management Corp. increased its position in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the period. Wright Investors Service Inc. lifted its holdings in shares of Verizon Communications by 1.2% in the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier's stock worth $920,000 after buying an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its position in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on VZ shares. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Weiss Ratings reissued a "buy (b-)" rating on shares of Verizon Communications in a research note on Wednesday. Wall Street Zen lowered Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Royal Bank Of Canada lifted their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.63.

Verizon Communications Trading Down 2.4%

Shares of VZ stock opened at $39.86 on Friday. 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 business has a 50-day moving average price of $43.48 and a two-hundred day moving average price of $43.25. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market cap of $168.05 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS 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. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. 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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