Transamerica Financial Advisors LLC Raises Holdings in Verizon Communications Inc. $VZ

Key Points

• Transamerica Financial Advisors LLC significantly raised its stake in Verizon Communications, increasing its holdings by 52,821.4% during the 1st quarter, totaling 14,818 shares valued at $673,000.
• Verizon Communications reported earnings per share (EPS) of $1.22 for the latest quarter, beating analyst estimates, with a revenue of $34.50 billion, up 5.2% year-over-year.
• The company has announced a quarterly dividend of $0.6775, reflecting an annualized payout of $2.71 and a dividend yield of 6.1%.

Transamerica Financial Advisors LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 52,821.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,818 shares of the cell phone carrier's stock after purchasing an additional 14,790 shares during the quarter. Transamerica Financial Advisors LLC's holdings in Verizon Communications were worth $673,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Sargent Investment Group LLC increased its holdings 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 worth $323,000 after purchasing an additional 230 shares during the period. Crescent Sterling Ltd. increased its holdings 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 last quarter. Providence Capital Advisors LLC increased its holdings 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 last quarter. Bernard Wealth Management Corp. increased its holdings 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 last quarter. Finally, Cherry Tree Wealth Management LLC increased its holdings 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 last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Up 0.7%

Shares of NYSE VZ opened at $44.26 on Thursday. The stock has a market cap of $186.62 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.36. 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 52-week low of $37.58 and a 52-week high of $47.35. The business has a 50-day moving average price of $42.93 and a 200 day moving average price of $43.19.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm 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%.The business's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications's dividend payout ratio is 63.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.35.

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).

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