Calton & Associates Inc. Boosts Stake in Verizon Communications Inc. $VZ

Key Points

• Calton & Associates Inc. significantly increased its stake in Verizon Communications by 299.7% in Q1, now holding 34,000 shares valued at about $1.54 million.
• Verizon reported earnings per share (EPS) of $1.22 for the last quarter, beating estimates by $0.03, with revenues of $34.50 billion, exceeding expectations of $33.47 billion.
• The company announced a quarterly dividend of $0.6775 per share, reflecting a dividend yield of 6.1% and a payout ratio of 63.17%.

Calton & Associates Inc. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 299.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,000 shares of the cell phone carrier's stock after acquiring an additional 25,494 shares during the quarter. Calton & Associates Inc.'s holdings in Verizon Communications were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of VZ. Bernard Wealth Management Corp. increased its position in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after buying an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the first quarter worth $26,000. Accent Capital Management LLC purchased a new stake in Verizon Communications in the first quarter worth $30,000. Finally, Mattson Financial Services LLC increased its position in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after buying an additional 415 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of NYSE VZ traded up $0.31 during mid-day trading on Monday, hitting $44.24. The company had a trading volume of 14,788,113 shares, compared to its average volume of 15,254,744. The company has a market capitalization of $186.53 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 3.41 and a beta of 0.36. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year 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's 50-day moving average price is $43.07 and its 200-day moving average price is $43.30.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of "Moderate Buy" and a consensus price target 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).