Sciencast Management LP Decreases Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• Sciencast Management LP has reduced its stake in Verizon Communications Inc. by 8.6%, now holding 62,528 shares valued at approximately $2.84 million.
• Verizon recently announced a quarterly dividend increase to $0.69, translating to an annualized payout of $2.76 and a yield of 6.2%.
• Several analysts have raised their price targets for Verizon, with Goldman Sachs setting a new target of $49.00 and an average rating of "Moderate Buy" across the board.

Sciencast Management LP decreased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,528 shares of the cell phone carrier's stock after selling 5,861 shares during the period. Sciencast Management LP's holdings in Verizon Communications were worth $2,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. lifted its position in shares of Verizon Communications by 81.0% during the 1st 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 during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the first quarter valued at $26,000. Cherry Tree Wealth Management LLC lifted 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 valued at $26,000 after acquiring an additional 244 shares during the last quarter. 1 North Wealth Services LLC purchased a new stake in Verizon Communications in the first quarter valued at $29,000. Finally, Accent Capital Management LLC acquired a new position in Verizon Communications in the first quarter valued at $30,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Stock Up 0.3%

Shares of NYSE VZ opened at $44.32 on Monday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a market capitalization of $186.88 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm's 50-day moving average is $43.20 and its two-hundred day moving average is $43.37.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The company 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%. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.2%. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is currently 63.17%.

Analysts Set New Price Targets

A number of research analysts have commented on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Bank of America boosted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note 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 stock. According to data from MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average target price of $47.65.

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).

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.