UniSuper Management Pty Ltd Buys 10,522 Shares of Verizon Communications Inc. $VZ

Key Points

• UniSuper Management Pty Ltd increased its stake in Verizon Communications by 4.2%, purchasing an additional 10,522 shares, bringing its total holdings to 261,804 shares valued at approximately $11.9 million.
• Verizon reported a quarterly EPS of $1.22, exceeding analysts' estimates, with revenue of $34.50 billion, marking a year-over-year increase of 5.2%.
• The company declared a quarterly dividend of $0.69 per share, representing a 6.2% yield, an increase from the previous dividend of $0.68.

UniSuper Management Pty Ltd increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 261,804 shares of the cell phone carrier's stock after purchasing an additional 10,522 shares during the quarter. UniSuper Management Pty Ltd's holdings in Verizon Communications were worth $11,875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Verizon Communications by 1.2% during the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock valued at $16,700,279,000 after acquiring an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Verizon Communications by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock valued at $4,983,225,000 after acquiring an additional 1,172,175 shares during the period. GQG Partners LLC raised its holdings in Verizon Communications by 303.9% during 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 acquiring an additional 37,516,167 shares during the period. Northern Trust Corp raised its holdings in Verizon Communications by 1.0% during the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after acquiring an additional 431,789 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Verizon Communications by 13.3% during the fourth 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 acquiring an additional 4,568,518 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 0.3%

VZ opened at $44.32 on Monday. The firm has a market cap of $186.88 billion, a P/E ratio of 10.33, a P/E/G ratio of 3.42 and a beta of 0.36. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $43.20 and a 200 day moving average of $43.37.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly 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 firm's revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.2%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is currently 63.17%.

Wall Street Analyst Weigh In

VZ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target 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 raised their price target on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley lifted their target price on 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 issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.65.

Verizon Communications 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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