Verizon Communications Inc. $VZ Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly increased its stake in Verizon Communications, acquiring 427,963 shares, bringing its total to 658,069 shares, valued at approximately $29.85 million.
• Verizon reported a quarterly EPS of $1.22, exceeding analyst expectations, along with a revenue of $34.50 billion, representing a 5.2% year-over-year increase.
• The company has announced an increase in its quarterly dividend to $0.69 per share, which will be paid on November 3rd, reflecting a yield of 6.2% and a positive change from its previous dividend.

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 186.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 658,069 shares of the cell phone carrier's stock after purchasing an additional 427,963 shares during the period. Verizon Communications makes up about 1.2% of Meiji Yasuda Asset Management Co Ltd.'s portfolio, making the stock its 11th biggest holding. Meiji Yasuda Asset Management Co Ltd.'s holdings in Verizon Communications were worth $29,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Vanguard Group Inc. boosted its holdings in Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock worth $16,700,279,000 after acquiring an additional 4,347,416 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock valued at $4,983,225,000 after acquiring an additional 1,172,175 shares in the last quarter. GQG Partners LLC raised its position in shares of Verizon Communications by 303.9% in 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 purchasing an additional 37,516,167 shares during the last quarter. Northern Trust Corp raised its position in shares of Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after purchasing an additional 431,789 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Verizon Communications by 13.3% in the 4th 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 in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.3%

Verizon Communications stock opened at $44.32 on Monday. The business's 50-day moving average price is $43.20 and its 200 day moving average price is $43.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a market cap of $186.88 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.2%. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on VZ shares. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target on the stock. JPMorgan Chase & Co. upped 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. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $47.65.

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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