Perbak Capital Partners LLP Has $1.17 Million Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• Perbak Capital Partners LLP reduced its stake in Verizon Communications by 55.8%, owning 25,888 shares valued at approximately $1.17 million.
• Wall Street analysts have altered their ratings on Verizon, with firms like JPMorgan Chase and Morgan Stanley raising target prices and offering upgraded ratings.
• Verizon reported an earnings per share (EPS) of $1.22 for the last quarter, exceeding analyst expectations and showing a 5.2% year-over-year revenue increase.

Perbak Capital Partners LLP lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 55.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,888 shares of the cell phone carrier's stock after selling 32,715 shares during the period. Verizon Communications accounts for 0.9% of Perbak Capital Partners LLP's portfolio, making the stock its 15th largest holding. Perbak Capital Partners LLP's holdings in Verizon Communications were worth $1,174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VZ. Brighton Jones LLC lifted its position 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. Aptus Capital Advisors LLC lifted its position in Verizon Communications by 86.5% in the fourth quarter. Aptus Capital Advisors LLC now owns 86,503 shares of the cell phone carrier's stock worth $3,459,000 after purchasing an additional 40,113 shares during the period. Banque Transatlantique SA bought a new position in Verizon Communications in the fourth quarter worth $35,000. Castlekeep Investment Advisors LLC bought a new position in Verizon Communications in the fourth quarter worth $326,000. Finally, Cary Street Partners Financial LLC bought a new position in Verizon Communications in the fourth quarter worth $1,805,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VZ. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley raised their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $47.35.

Verizon Communications Stock Up 0.7%

Shares of NYSE VZ opened at $44.24 on Tuesday. The stock has a market cap of $186.53 billion, a PE ratio of 10.31, a PEG ratio of 3.41 and a beta of 0.36. The business has a fifty day moving average of $43.07 and a two-hundred day moving average of $43.30. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analysts' expectations 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 was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.6775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.