Verizon Communications Inc. $VZ Shares Acquired by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC increased its holdings in Verizon Communications by 35.0%, acquiring an additional 86,839 shares, bringing its total to 334,921 shares valued at $14.49 million.
• Verizon reported earnings of $1.22 per share for the last quarter, exceeding estimates by $0.03, with revenue of $34.50 billion, reflecting a 5.2% year-over-year increase.
• The company declared a quarterly dividend of $0.69 per share, reflecting an increase from the previous $0.68, with an annualized yield of 6.3%.

Park Avenue Securities LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 35.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,921 shares of the cell phone carrier's stock after acquiring an additional 86,839 shares during the quarter. Park Avenue Securities LLC's holdings in Verizon Communications were worth $14,492,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VZ. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new position in Verizon Communications during the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC boosted its stake in 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 worth $26,000 after buying an additional 244 shares during the last quarter. Bulwark Capital Corp acquired a new position in Verizon Communications during the second quarter worth $25,000. Finally, 1 North Wealth Services LLC purchased a new stake in Verizon Communications in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Trading Down 0.3%

NYSE VZ opened at $43.53 on Friday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a market capitalization of $183.54 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm's fifty day moving average price is $43.35 and its 200 day moving average price is $43.40.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The company 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 last year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's dividend payout ratio is 63.17%.

Analyst Ratings Changes

VZ has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. 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 report on Tuesday, July 22nd. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average price target of $47.65.

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).

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