Thematics Asset Management Sells 21,142 Shares of Verizon Communications Inc. $VZ

Key Points

• Thematics Asset Management has reduced its stake in Verizon Communications by 14.6%, selling 21,142 shares and leaving it with 123,549 shares valued at approximately $5.6 million.
• Several hedge funds have increased their positions in Verizon, with Bernard Wealth Management raising its stake by 81% to 543 shares, while Cherry Tree Wealth Management increased by 71.8% to 584 shares.
• Verizon recently declared a quarterly dividend of $0.6775, representing an annualized dividend yield of 6.1%, with a current dividend payout ratio of 63.17%.

Thematics Asset Management decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 123,549 shares of the cell phone carrier's stock after selling 21,142 shares during the quarter. Thematics Asset Management's holdings in Verizon Communications were worth $5,604,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. raised its stake in 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 purchasing an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC raised its stake in 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 purchasing an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter valued at $26,000. Accent Capital Management LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth about $30,000. Finally, Mattson Financial Services LLC lifted its holdings in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analyst Upgrades and Downgrades

VZ has been the subject of several analyst reports. 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. JPMorgan Chase & Co. raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.35.

Verizon Communications Trading Down 1.4%

NYSE VZ opened at $44.3840 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 company has a market capitalization of $187.14 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 3.43 and a beta of 0.36. The company's 50-day simple moving average is $42.80 and its two-hundred day simple moving average is $43.13. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its 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 business had revenue of $34.50 billion for 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 company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 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).

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