Rollins Financial Advisors LLC Grows Position in Verizon Communications Inc. $VZ

Key Points

• Rollins Financial Advisors LLC increased its stake in Verizon by 75.1%, acquiring a total of 14,795 shares valued at approximately $671,000.
• Verizon recently announced a quarterly dividend of $0.69 per share, reflecting an increase from the previous quarterly dividend of $0.68, with a yield of 6.3%.
• The company's quarterly earnings beat analysts' expectations with $1.22 earnings per share, and its revenue for the quarter was up 5.2% compared to the previous year.

Rollins Financial Advisors LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 75.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,795 shares of the cell phone carrier's stock after buying an additional 6,344 shares during the quarter. Rollins Financial Advisors LLC's holdings in Verizon Communications were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. grew its stake in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the 1st quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC grew its stake in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares during the last quarter. 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications in the 1st quarter valued at approximately $29,000. Finally, Accent Capital Management LLC purchased a new position in shares of Verizon Communications in the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 0.2%

Verizon Communications stock opened at $43.50 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a market cap of $183.40 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 3.36 and a beta of 0.36. The stock's 50 day moving average price is $43.20 and its 200 day moving average price is $43.37.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company 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 dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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).

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