Verizon Communications Inc. $VZ Shares Bought by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. increased its holdings in Verizon Communications by 0.6%, now owning approximately 1,389,297 shares valued at $60.1 million.
• Verizon reported earnings per share of $1.22 for the last quarter, surpassing estimates, with revenue reaching $34.5 billion, a year-over-year increase of 5.2%.
• The company has announced a quarterly dividend of $0.69, reflecting a 1.47% increase from the previous dividend, with a yield of 6.3%.

Miller Howard Investments Inc. NY lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 0.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,389,297 shares of the cell phone carrier's stock after purchasing an additional 8,785 shares during the quarter. Verizon Communications comprises about 1.9% of Miller Howard Investments Inc. NY's holdings, making the stock its 18th biggest holding. Miller Howard Investments Inc. NY's holdings in Verizon Communications were worth $60,115,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VZ. Vanguard Group Inc. raised its position in Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock valued at $16,700,279,000 after purchasing an additional 4,347,416 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 worth $4,983,225,000 after buying an additional 1,172,175 shares in the last quarter. GQG Partners LLC grew its stake in 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 worth $2,261,648,000 after acquiring an additional 37,516,167 shares during the period. Northern Trust Corp grew its holdings in 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 buying an additional 431,789 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Verizon Communications by 8.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.3%

Shares of NYSE:VZ opened at $43.53 on Friday. 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 company has a market capitalization of $183.54 billion, a PE ratio of 10.15, a P/E/G ratio of 3.37 and a beta of 0.36. The company's fifty day moving average is $43.35 and its 200-day moving average is $43.40. 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 issued its quarterly earnings results 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.3%. 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 63.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. Wells Fargo & Company raised their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective 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. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada boosted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average price target of $47.65.

Verizon Communications Company 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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