Verizon Communications Inc. $VZ Shares Acquired by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its holdings in Verizon Communications by 1.2%, now owning 536,115 shares valued at approximately $24.3 million.
• Verizon recently reported earnings of $1.22 per share, exceeding analyst expectations and posting a revenue increase of 5.2% year-over-year to $34.5 billion.
• Analysts have generally given Verizon a "Moderate Buy" rating, with a consensus target price of $47.44, following recent upgrades from multiple research firms.

Nissay Asset Management Corp Japan ADV grew its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 536,115 shares of the cell phone carrier's stock after purchasing an additional 6,442 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Verizon Communications were worth $24,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. Brighton Jones LLC increased its stake in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. EP Wealth Advisors LLC increased its stake in shares of Verizon Communications by 22.9% during the fourth quarter. EP Wealth Advisors LLC now owns 141,518 shares of the cell phone carrier's stock valued at $5,659,000 after buying an additional 26,366 shares during the period. Deutsche Bank AG increased its stake in shares of Verizon Communications by 6.9% during the fourth quarter. Deutsche Bank AG now owns 17,301,075 shares of the cell phone carrier's stock valued at $691,870,000 after buying an additional 1,113,883 shares during the period. Clark Capital Management Group Inc. increased its stake in shares of Verizon Communications by 0.4% during the fourth quarter. Clark Capital Management Group Inc. now owns 955,648 shares of the cell phone carrier's stock valued at $38,216,000 after buying an additional 4,107 shares during the period. Finally, Fred Alger Management LLC increased its stake in shares of Verizon Communications by 5.6% during the fourth quarter. Fred Alger Management LLC now owns 131,046 shares of the cell phone carrier's stock valued at $5,241,000 after buying an additional 6,952 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 2.4%

NYSE VZ traded down $1.06 during trading on Monday, hitting $43.32. The company's stock had a trading volume of 30,231,513 shares, compared to its average volume of 21,191,508. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The company has a market cap of $182.66 billion, a PE ratio of 10.10, a P/E/G ratio of 3.42 and a beta of 0.36. The business's 50 day simple moving average is $43.20 and its 200-day simple moving average is $43.37. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35.

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, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last 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, 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.4%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Analysts Set New Price Targets

VZ has been the topic of several research reports. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

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).