Tcfg Wealth Management LLC Has $1.80 Million Position in Verizon Communications Inc. $VZ

Key Points

• Tcfg Wealth Management LLC reduced its holdings in Verizon Communications by 33%, holding 41,674 shares worth approximately $1.80 million, making Verizon its 23rd largest position.
• Verizon recently increased its quarterly dividend to $0.69 per share, representing an annualized dividend of $2.76 with a yield of 6.7%.
• Verizon's stock had a market cap of $174.94 billion and reported quarterly earnings of $1.22 EPS, exceeding analysts' expectations of $1.19 EPS.

Tcfg Wealth Management LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 33.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,674 shares of the cell phone carrier's stock after selling 20,566 shares during the period. Verizon Communications accounts for 0.8% of Tcfg Wealth Management LLC's holdings, making the stock its 23rd biggest position. Tcfg Wealth Management LLC's holdings in Verizon Communications were worth $1,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clark & Stuart Inc boosted its position in Verizon Communications by 6.4% during the second quarter. Clark & Stuart Inc now owns 5,225 shares of the cell phone carrier's stock worth $226,000 after purchasing an additional 314 shares during the period. Roberts Wealth Advisors LLC lifted its stake in shares of Verizon Communications by 2.6% during the 2nd quarter. Roberts Wealth Advisors LLC now owns 64,626 shares of the cell phone carrier's stock worth $2,796,000 after buying an additional 1,631 shares during the last quarter. Seamount Financial Group Inc. bought a new position in Verizon Communications in the 2nd quarter valued at about $451,000. SteelPeak Wealth LLC lifted its holdings in shares of Verizon Communications by 52.0% during the second quarter. SteelPeak Wealth LLC now owns 589,462 shares of the cell phone carrier's stock worth $25,506,000 after buying an additional 201,755 shares in the last quarter. Finally, Motiv8 Investments LLC boosted its holdings in Verizon Communications by 8.4% in the 2nd quarter. Motiv8 Investments LLC now owns 35,505 shares of the cell phone carrier's stock valued at $1,536,000 after purchasing an additional 2,737 shares during the period. 62.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VZ shares. Wall Street Zen cut Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Weiss Ratings restated a "buy (b-)" rating on shares of Verizon Communications in a research report on Saturday, September 27th. Finally, Morgan Stanley boosted their price target on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.63.

Verizon Communications Stock Performance

NYSE VZ opened at $41.49 on Tuesday. The firm's fifty day moving average price is $43.63 and its two-hundred day moving average price is $43.33. The stock has a market cap of $174.94 billion, a PE ratio of 9.67, a PEG ratio of 3.37 and a beta of 0.37. 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.

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

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. This is an increase 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 64.34%.

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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