Schwerin Boyle Capital Management Inc. Lowers Position in Verizon Communications Inc. $VZ

Key Points

• Schwerin Boyle Capital Management Inc. reduced its stake in Verizon Communications by 2.9% during the first quarter, now holding 469,075 shares valued at approximately $21.3 million.
• Verizon's recent quarterly earnings topped analyst expectations, reporting an EPS of $1.22 and revenue of $34.5 billion, marking a 5.2% increase year-over-year.
• Wall Street analysts have shown a positive outlook on Verizon, with price targets raised, indicating a consensus moderate buy rating and a target price of $47.35.

Schwerin Boyle Capital Management Inc. trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,075 shares of the cell phone carrier's stock after selling 13,800 shares during the quarter. Verizon Communications accounts for approximately 2.2% of Schwerin Boyle Capital Management Inc.'s portfolio, making the stock its 13th largest holding. Schwerin Boyle Capital Management Inc.'s holdings in Verizon Communications were worth $21,277,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its holdings 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 buying an additional 243 shares during the period. Garde Capital Inc. acquired a new stake in Verizon Communications in the first quarter valued at $26,000. Cherry Tree Wealth Management LLC boosted its position 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 purchasing an additional 244 shares in the last quarter. Accent Capital Management LLC acquired a new position in shares of Verizon Communications during the 1st quarter worth $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Performance

Verizon Communications stock opened at $44.3840 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock has a fifty day moving average of $42.80 and a two-hundred day moving average of $43.15. The company has a market capitalization of $187.14 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 3.43 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.6775 dividend. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.1%. Verizon Communications's payout ratio is 63.17%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Bank of America boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company 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).

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