SCS Capital Management LLC Takes Position in Verizon Communications Inc. $VZ

Key Points

• SCS Capital Management LLC acquired 9,789 shares of Verizon Communications Inc. ($444,000 value) during the first quarter, highlighting growing institutional interest in the company.
• Verizon recently reported quarterly earnings of $1.22 per share, exceeding estimates of $1.19, alongside a revenue increase of 5.2% year-over-year to $34.50 billion.
• The company announced a dividend increase to $0.69 per share, providing a yield of 6.3% and reflecting strong financial performance with a dividend payout ratio of 63.17%.

SCS Capital Management LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,789 shares of the cell phone carrier's stock, valued at approximately $444,000.

A number of other hedge funds also recently made changes to their positions in VZ. Bernard Wealth Management Corp. raised its holdings 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 buying an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC raised its holdings in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $26,000. 1 North Wealth Services LLC bought a new stake in Verizon Communications during the first quarter worth approximately $29,000. Finally, Accent Capital Management LLC bought a new stake in Verizon Communications during the first quarter worth approximately $30,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Up 1.4%

Verizon Communications stock opened at $44.12 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market cap of $186.02 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The firm's 50 day moving average price is $43.21 and its two-hundred day moving average price is $43.38.

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 (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.3%. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VZ. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price on the stock. 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 report on Tuesday, July 22nd. Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Three equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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).

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