Teewinot Capital Advisers L.L.C. Acquires New Shares in Verizon Communications Inc. $VZ

Key Points

• Teewinot Capital Advisers has acquired a new stake in Verizon Communications, purchasing 15,533 shares worth approximately $705,000 during the first quarter.
• Verizon's recent earnings report revealed a profit of $1.22 per share, exceeding estimates, with a year-over-year revenue increase of 5.2%.
• Analysts have raised their price targets for Verizon, with a consensus average target now at $47.65 and a significant proportion rating the stock as a Moderate Buy.

Teewinot Capital Advisers L.L.C. bought a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,533 shares of the cell phone carrier's stock, valued at approximately $705,000.

A number of other large investors have also modified their holdings of VZ. GQG Partners LLC grew its stake in shares of Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after buying an additional 37,516,167 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $661,720,000. Pacer Advisors Inc. grew its stake in shares of Verizon Communications by 737.5% in the first quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock valued at $530,576,000 after buying an additional 10,300,369 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Verizon Communications by 20.6% in the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock valued at $1,434,572,000 after buying an additional 5,392,416 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Verizon Communications by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after purchasing an additional 4,568,518 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analyst Weigh In

VZ has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Wells Fargo & Company lifted their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Stock Performance

Shares of VZ traded down $1.06 during mid-day trading on Monday, hitting $43.32. The stock had a trading volume of 30,230,465 shares, compared to its average volume of 15,051,414. The company has a market cap of $182.66 billion, a PE ratio of 10.10, a PEG ratio of 3.42 and a beta of 0.36. The company's fifty day simple moving average is $43.20 and its two-hundred day simple moving average is $43.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. 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 issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm 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 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced 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 annualized dividend 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 payout ratio is 63.17%.

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).