Rowlandmiller & PARTNERS.ADV Purchases 17,082 Shares of Verizon Communications Inc. $VZ

Key Points

• Rowlandmiller & PARTNERS.ADV increased its holdings in Verizon Communications by 9.7%, purchasing an additional 17,082 shares, bringing their total to 193,103 shares valued at $8,356,000.
• Verizon Communications declared a quarterly dividend of $0.69 per share, marking a rise from the previous dividend of $0.68, which results in an annual yield of 6.3%.
• Analysts maintain a positive outlook on Verizon, with a consensus price target of $47.65, and varying ratings from "Strong Buy" to "Hold" among major investment firms.

Rowlandmiller & PARTNERS.ADV lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,103 shares of the cell phone carrier's stock after purchasing an additional 17,082 shares during the period. Verizon Communications accounts for about 1.7% of Rowlandmiller & PARTNERS.ADV's holdings, making the stock its 16th biggest position. Rowlandmiller & PARTNERS.ADV's holdings in Verizon Communications were worth $8,356,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in VZ. Bernard Wealth Management Corp. lifted its position in shares of Verizon Communications by 81.0% during the first 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 in the last quarter. Cherry Tree Wealth Management LLC raised its position in 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 acquiring an additional 244 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter worth about $26,000. 1 North Wealth Services LLC bought a new stake in Verizon Communications in the first quarter worth about $29,000. Finally, Accent Capital Management LLC bought a new stake in Verizon Communications in the first quarter worth about $30,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

VZ opened at $43.99 on Friday. The company has a market capitalization of $185.48 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 3.40 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $43.22 and a 200-day moving average price of $43.38. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

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 for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company's 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. Equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company 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 6.3%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is 63.17%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group assumed 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. Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted 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. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Bank of America lifted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.65.

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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