Signal Advisors Wealth LLC Purchases 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 second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Sargent Investment Group LLC lifted its position in Verizon Communications by 3.3% during the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after purchasing an additional 230 shares during the period. Crescent Sterling Ltd. raised its position in shares of Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after acquiring an additional 235 shares during the period. Providence Capital Advisors LLC raised its position in shares of Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after acquiring an additional 240 shares during the period. Bernard Wealth Management Corp. raised its position 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 acquiring an additional 243 shares during the period. Finally, Cherry Tree Wealth Management LLC raised its position in shares of Verizon Communications by 71.8% in the 1st 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 period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Bank of America raised their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Morgan Stanley raised their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications Trading Down 0.0%

Shares of Verizon Communications stock traded down $0.01 on Tuesday, hitting $43.15. The stock had a trading volume of 2,879,467 shares, compared to its average volume of 20,853,391. The stock has a 50 day moving average of $43.39 and a 200 day moving average of $43.38. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. 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 capitalization of $181.94 billion, a P/E ratio of 10.07, a PEG ratio of 3.35 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data 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. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The firm's revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share 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 issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

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).