Verizon Communications Inc. $VZ Position Lessened by Te Ahumairangi Investment Management Ltd

Key Points

• Te Ahumairangi Investment Management Ltd reduced its stake in Verizon Communications Inc. by 8.9%, now owning 661,440 shares worth approximately $30 million.
• Verizon reported $1.22 EPS for the last quarter, surpassing analysts' expectations, and achieved a revenue of $34.50 billion, reflecting a 5.2% year-over-year growth.
• Several analysts have recently upgraded their price targets for Verizon, with a consensus target price of $47.35 and a current average rating of "Moderate Buy".

Te Ahumairangi Investment Management Ltd cut its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 661,440 shares of the cell phone carrier's stock after selling 64,302 shares during the quarter. Verizon Communications comprises about 6.3% of Te Ahumairangi Investment Management Ltd's portfolio, making the stock its 2nd biggest position. Te Ahumairangi Investment Management Ltd's holdings in Verizon Communications were worth $30,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Brighton Jones LLC increased its holdings in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after acquiring an additional 16,704 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in Verizon Communications by 11.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 181,824 shares of the cell phone carrier's stock worth $7,271,000 after buying an additional 18,741 shares during the last quarter. Voleon Capital Management LP purchased a new position in Verizon Communications during the 4th quarter worth $1,325,000. Triumph Capital Management grew its stake in Verizon Communications by 3.8% during the 4th quarter. Triumph Capital Management now owns 14,772 shares of the cell phone carrier's stock worth $591,000 after buying an additional 537 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in Verizon Communications by 0.9% during the 4th quarter. Rehmann Capital Advisory Group now owns 34,414 shares of the cell phone carrier's stock worth $1,376,000 after buying an additional 292 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has an average rating of "Moderate Buy" and a consensus target price of $47.35.

Verizon Communications Stock Performance

Shares of VZ opened at $43.95 on Friday. The stock has a 50-day moving average of $42.98 and a two-hundred day moving average of $43.22. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. 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 stock has a market cap of $185.32 billion, a P/E ratio of 10.25, a P/E/G ratio of 3.41 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm posted $1.15 EPS. The firm's 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. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's payout ratio is 63.17%.

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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