RPG Investment Advisory LLC Has $12.10 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• RPG Investment Advisory LLC has increased its holdings in Verizon Communications Inc. by 97.5%, owning 266,760 shares valued at approximately $12.1 million as of the latest reporting period.
• Verizon's quarterly earnings report showed an EPS of $1.22, surpassing analysts' expectations, with a revenue of $34.50 billion for the quarter, representing a 5.2% increase year-over-year.
• Wells Fargo & Co., Royal Bank of Canada, and JPMorgan have recently adjusted their price targets for Verizon stock, with a consensus price target of $47.35 and a consensus rating of "Moderate Buy."

RPG Investment Advisory LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 97.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,760 shares of the cell phone carrier's stock after acquiring an additional 131,678 shares during the period. RPG Investment Advisory LLC's holdings in Verizon Communications were worth $12,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after acquiring an additional 16,704 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Verizon Communications by 17.4% in the fourth quarter. Dark Forest Capital Management LP now owns 19,228 shares of the cell phone carrier's stock worth $769,000 after buying an additional 2,847 shares during the last quarter. MGO One Seven LLC raised its position in Verizon Communications by 7.8% during the fourth quarter. MGO One Seven LLC now owns 64,801 shares of the cell phone carrier's stock valued at $2,591,000 after acquiring an additional 4,683 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Verizon Communications by 1.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 200,583 shares of the cell phone carrier's stock valued at $8,021,000 after acquiring an additional 2,087 shares in the last quarter. Finally, Seven Springs Wealth Group LLC lifted its stake in Verizon Communications by 3.5% in the fourth quarter. Seven Springs Wealth Group LLC now owns 87,841 shares of the cell phone carrier's stock valued at $3,513,000 after acquiring an additional 2,949 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Royal Bank Of Canada upped their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Tigress Financial upped their target price on Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Arete Research upgraded 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 given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

Verizon Communications Stock Down 0.1%

Shares of VZ stock opened at $45.0350 on Friday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. 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 market cap of $189.88 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.36. The stock has a 50 day moving average of $42.77 and a 200-day moving average of $43.07.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion for 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%. Verizon Communications's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.0%. Verizon Communications's dividend payout ratio is currently 63.17%.

Verizon Communications 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).

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

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.