Verizon Communications Inc. $VZ Position Lifted by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its stake in Verizon Communications Inc. by 46.7%, now holding over 642,368 shares valued at approximately $29.1 million.
• Analysts have recently upgraded Verizon to a "buy" rating, with an average target price of $47.65 and three analysts rating it as a Strong Buy.
• Verizon announced a quarterly dividend increase to $0.69, representing a yield of 6.4% and a payout ratio of 63.17%.

Empowered Funds LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 46.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642,368 shares of the cell phone carrier's stock after acquiring an additional 204,587 shares during the quarter. Verizon Communications makes up 0.4% of Empowered Funds LLC's portfolio, making the stock its 27th biggest position. Empowered Funds LLC's holdings in Verizon Communications were worth $29,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in VZ. GQG Partners LLC boosted its stake in Verizon Communications by 303.9% during the 1st 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 last quarter. Nuveen LLC bought a new position in Verizon Communications during the 1st quarter valued at $661,720,000. Pacer Advisors Inc. boosted its stake in Verizon Communications by 737.5% during the 1st quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock valued at $530,576,000 after acquiring an additional 10,300,369 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Verizon Communications by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock valued at $1,434,572,000 after acquiring an additional 5,392,416 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 worth $1,555,351,000 after purchasing an additional 4,568,518 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company increased their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Stock Down 2.4%

VZ stock opened at $43.32 on Tuesday. 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 fifty-two week low of $37.58 and a fifty-two week high of $47.35. The firm's 50-day simple moving average is $43.20 and its 200 day simple moving average is $43.37. The stock has a market cap of $182.66 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter last year, the company earned $1.15 EPS. The company's revenue for the quarter 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, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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 is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.4%. Verizon Communications's dividend payout ratio is 63.17%.

About Verizon Communications

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).

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

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.