Verizon Communications Inc. $VZ Shares Bought by Compagnie Lombard Odier SCmA

Key Points

• Compagnie Lombard Odier SCmA increased its holdings in Verizon Communications by 0.9%, owning 662,227 shares valued at approximately $28.65 million as of its most recent SEC filing.
• Verizon Communications recently raised its quarterly dividend to $0.69 per share, with a yield of 6.4%, reflecting an increase from the previous dividend of $0.68.
• Analysts have adjusted their price targets for Verizon, with the average target now set at $47.65 and ratings ranging from "Hold" to "Strong Buy."

Compagnie Lombard Odier SCmA raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 662,227 shares of the cell phone carrier's stock after purchasing an additional 6,044 shares during the period. Compagnie Lombard Odier SCmA's holdings in Verizon Communications were worth $28,655,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after acquiring an additional 16,704 shares in the last quarter. State of Wyoming raised its position in shares of Verizon Communications by 94.0% during the 4th quarter. State of Wyoming now owns 4,422 shares of the cell phone carrier's stock valued at $177,000 after acquiring an additional 2,143 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $1,608,000. Toronto Dominion Bank raised its position in shares of Verizon Communications by 5.7% during the 4th quarter. Toronto Dominion Bank now owns 2,346,826 shares of the cell phone carrier's stock valued at $93,848,000 after acquiring an additional 125,966 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $74,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VZ has been the topic of several research reports. Bank of America upped their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company increased their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.65.

Verizon Communications Trading Down 0.6%

Shares of VZ stock opened at $43.21 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock has a market capitalization of $182.17 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.35 and a beta of 0.36. 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 stock has a 50-day simple moving average of $43.39 and a 200 day simple moving average of $43.38.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating 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 return on equity of 19.61% and a net margin of 13.28%.Verizon Communications's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.4%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio (DPR) is currently 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).

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