Capital Advisory Group Advisory Services LLC Increases Holdings in Verizon Communications Inc. $VZ

Key Points

• Capital Advisory Group increased its stake in Verizon Communications by 26.4%, owning 57,972 shares worth $2.5 million after acquiring an additional 12,090 shares in the second quarter.
• Verizon reported better than expected earnings for the last quarter at $1.22 per share, exceeding analysts' estimates of $1.19, alongside a revenue of $34.5 billion.
• The company plans to pay a quarterly dividend of $0.69 on November 3rd, up from the previous quarter's $0.68, representing an annual yield of 6.3%.

Capital Advisory Group Advisory Services LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 26.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 57,972 shares of the cell phone carrier's stock after purchasing an additional 12,090 shares during the quarter. Capital Advisory Group Advisory Services LLC's holdings in Verizon Communications were worth $2,508,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Verizon Communications by 2.0% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,577,600 shares of the cell phone carrier's stock worth $68,263,000 after purchasing an additional 31,000 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Verizon Communications by 8.1% during the second quarter. Wedmont Private Capital now owns 33,400 shares of the cell phone carrier's stock worth $1,423,000 after purchasing an additional 2,514 shares during the last quarter. Swedbank AB grew its holdings in shares of Verizon Communications by 59.2% during the second quarter. Swedbank AB now owns 6,830,479 shares of the cell phone carrier's stock worth $295,555,000 after purchasing an additional 2,541,133 shares during the last quarter. Secure Asset Management LLC grew its holdings in shares of Verizon Communications by 18.0% during the second quarter. Secure Asset Management LLC now owns 22,709 shares of the cell phone carrier's stock worth $983,000 after purchasing an additional 3,471 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of Verizon Communications by 45.8% during the second quarter. Baader Bank Aktiengesellschaft now owns 11,503 shares of the cell phone carrier's stock worth $458,000 after purchasing an additional 3,614 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

NYSE:VZ traded down $0.51 during mid-day trading on Thursday, reaching $43.70. The stock had a trading volume of 16,483,706 shares, compared to its average volume of 15,669,754. 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 firm has a market capitalization of $184.24 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.41 and a beta of 0.36. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The business has a 50 day simple moving average of $43.32 and a 200 day simple moving average of $43.39.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. The firm 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 firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal 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 given a $0.69 dividend. The ex-dividend date is Friday, October 10th. 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 yield of 6.3%. Verizon Communications's payout ratio is 63.17%.

Analyst Ratings Changes

VZ has been the topic of several research reports. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price for the company. 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 research note on Thursday, July 10th. 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 research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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).