Revisor Wealth Management LLC Buys 7,713 Shares of Verizon Communications Inc. $VZ

Key Points

• Revisor Wealth Management LLC significantly increased its stake in Verizon Communications by 123.3%, acquiring an additional 7,713 shares, bringing its total holdings to 13,966 shares valued at approximately $597,000.
• Verizon announced a quarterly dividend increase to $0.69, representing an annual yield of 6.4% , with the next payment set for November 3rd, after the record date of October 10th.
• Research analysts have recently upgraded Verizon’s stock ratings, with three assigning a Strong Buy rating, contributing to a consensus rating of "Moderate Buy" and a price target of $47.65.

Revisor Wealth Management LLC raised its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 123.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,966 shares of the cell phone carrier's stock after buying an additional 7,713 shares during the quarter. Revisor Wealth Management LLC's holdings in Verizon Communications were worth $597,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VZ. Bernard Wealth Management Corp. lifted its position in shares of 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. Bulwark Capital Corp bought a new stake in shares of Verizon Communications in the second quarter worth $25,000. Cherry Tree Wealth Management LLC lifted 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 worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the first quarter worth $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the first quarter worth $29,000. Institutional investors own 62.06% of the company's stock.

Analyst Ratings Changes

VZ has been the topic of a number of research reports. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley boosted their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given 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 an average price target of $47.65.

Verizon Communications Trading Down 0.6%

VZ stock opened at $43.21 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company's 50-day simple moving average is $43.39 and its 200 day simple moving average is $43.38. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a market capitalization of $182.17 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business'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. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is 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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