RBO & Co. LLC Makes New Investment in Verizon Communications Inc. $VZ

Key Points

• RBO & Co. LLC invested approximately $687,000 in Verizon Communications, acquiring 15,137 shares during the first quarter.
• Verizon reported $1.22 earnings per share for the latest quarter, exceeding analysts' expectations, and its revenue was up 5.2% year-over-year.
• The company declared a quarterly dividend of $0.6775 per share, which translates to an annual yield of 6.1%.

RBO & Co. LLC acquired a new position in Verizon Communications Inc. (NYSE:VZ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,137 shares of the cell phone carrier's stock, valued at approximately $687,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Bernard Wealth Management Corp. raised its holdings in Verizon Communications by 81.0% in 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 in the last quarter. Cherry Tree Wealth Management LLC raised its stake in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter valued at approximately $26,000. Accent Capital Management LLC purchased a new position in Verizon Communications in the first quarter worth $30,000. Finally, Mattson Financial Services LLC increased its position in shares of Verizon Communications by 114.6% during the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after purchasing an additional 415 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock traded down $0.6460 during trading hours on Friday, hitting $44.3840. The company's stock had a trading volume of 19,108,248 shares, compared to its average volume of 16,005,941. The stock has a market cap of $187.14 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 3.43 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. The company has a 50 day moving average of $42.80 and a 200 day moving average of $43.15. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its earnings results 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business 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 is presently 63.17%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VZ shares. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Bank of America lifted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Tigress Financial lifted their price objective on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Three research 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

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).