Signal Advisors Wealth LLC Acquires 7,464 Shares of Verizon Communications Inc. $VZ

Key Points

• Signal Advisors Wealth LLC raised its holdings in Verizon Communications by 115.8% in the second quarter, owning 13,908 shares valued at $602,000.
• Verizon's stock had a positive earnings report, with an EPS of $1.22, exceeding analysts' expectations, and a revenue increase of 5.2% year-over-year.
• The company announced a quarterly dividend of $0.69, reflecting a slight increase from the previous dividend of $0.68, and a 6.3% dividend yield.

Signal Advisors Wealth LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 115.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,908 shares of the cell phone carrier's stock after purchasing an additional 7,464 shares during the period. Signal Advisors Wealth LLC's holdings in Verizon Communications were worth $602,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Focus Financial Network Inc. boosted its stake in Verizon Communications by 5.6% during the 2nd quarter. Focus Financial Network Inc. now owns 31,912 shares of the cell phone carrier's stock valued at $1,381,000 after purchasing an additional 1,699 shares during the last quarter. Radnor Capital Management LLC lifted its holdings in shares of Verizon Communications by 0.7% during the 2nd quarter. Radnor Capital Management LLC now owns 56,111 shares of the cell phone carrier's stock valued at $2,428,000 after buying an additional 381 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Verizon Communications by 0.7% during the 2nd quarter. Pallas Capital Advisors LLC now owns 89,182 shares of the cell phone carrier's stock valued at $3,859,000 after buying an additional 579 shares during the period. Mirador Capital Partners LP lifted its holdings in shares of Verizon Communications by 4.9% during the 2nd quarter. Mirador Capital Partners LP now owns 27,156 shares of the cell phone carrier's stock valued at $1,175,000 after buying an additional 1,257 shares during the period. Finally, Goelzer Investment Management Inc. lifted its holdings in shares of Verizon Communications by 0.9% during the 2nd quarter. Goelzer Investment Management Inc. now owns 190,087 shares of the cell phone carrier's stock valued at $8,225,000 after buying an additional 1,634 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 0.3%

NYSE VZ traded down $0.14 during trading on Friday, hitting $43.53. The stock had a trading volume of 29,150,933 shares, compared to its average volume of 15,901,778. 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 stock has a market capitalization of $183.54 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 3.35 and a beta of 0.36. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The stock has a 50 day simple moving average of $43.35 and a 200 day simple moving average of $43.40.

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 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 firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is presently 64.34%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VZ shares. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price on the stock. Royal Bank Of Canada raised 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. Finally, Wells Fargo & Company raised 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. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Company 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).