Verizon Communications Inc. $VZ Position Increased by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners LLC has increased its stake in Verizon Communications Inc. by 4.4%, owning a total of 240,757 shares valued at approximately $10.4 million after adding 10,106 shares in the second quarter.
• Verizon reported a net revenue of $34.5 billion for the last quarter, surpassing analysts' expectations and achieving a 5.2% increase compared to the previous year.
• The company recently declared a quarterly dividend of $0.69, reflecting a 1.5% increase from the previous dividend, with a current yield of 6.8% annualized.

Cyndeo Wealth Partners LLC increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,757 shares of the cell phone carrier's stock after purchasing an additional 10,106 shares during the period. Cyndeo Wealth Partners LLC's holdings in Verizon Communications were worth $10,418,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Verizon Communications by 1.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 24,060 shares of the cell phone carrier's stock worth $1,041,000 after purchasing an additional 325 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Verizon Communications by 50.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 269,389 shares of the cell phone carrier's stock worth $11,656,000 after purchasing an additional 89,957 shares during the last quarter. Pinion Investment Advisors LLC lifted its holdings in shares of Verizon Communications by 24.6% in the 2nd quarter. Pinion Investment Advisors LLC now owns 6,675 shares of the cell phone carrier's stock worth $289,000 after purchasing an additional 1,319 shares during the last quarter. Moseley Investment Management Inc. lifted its holdings in shares of Verizon Communications by 3.3% in the 2nd quarter. Moseley Investment Management Inc. now owns 43,273 shares of the cell phone carrier's stock worth $1,872,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Callan Family Office LLC lifted its holdings in shares of Verizon Communications by 303.3% in the 2nd quarter. Callan Family Office LLC now owns 57,389 shares of the cell phone carrier's stock worth $2,483,000 after purchasing an additional 43,158 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 1.1%

Shares of VZ stock opened at $40.85 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The stock has a market cap of $172.24 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 3.19 and a beta of 0.37. The business's fifty day moving average is $43.54 and its 200-day moving average is $43.29. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $33.47 billion. During the same period last year, the firm earned $1.15 EPS. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.8%. 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 presently 64.34%.

Analyst Ratings Changes

Several analysts recently commented on VZ shares. JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the company 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 company a "sector perform" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wall Street Zen cut Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Finally, Scotiabank raised their target price on Verizon Communications from $50.00 to $50.50 and gave the company a "sector perform" rating in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.63.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.