Verizon Communications Inc. $VZ Shares Acquired by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 292.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,836 shares of the cell phone carrier's stock after acquiring an additional 15,527 shares during the period. Armstrong Fleming & Moore Inc's holdings in Verizon Communications were worth $902,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Bernard Wealth Management Corp. raised its stake in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the period. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC raised its stake in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

VZ stock opened at $41.35 on Thursday. The company has a market capitalization of $174.35 billion, a P/E ratio of 9.64, a PEG ratio of 3.20 and a beta of 0.37. The company has a 50-day simple moving average of $43.58 and a 200 day simple moving average of $43.30. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. 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 (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.7%. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VZ shares. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Scotiabank raised their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a "sector perform" rating in a research report on Monday. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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).

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