Verizon Communications Inc. $VZ Shares Bought by Mutual Advisors LLC

Key Points

• Mutual Advisors LLC increased its stake in Verizon Communications by 5.3% during Q2, bringing their total shares to 144,973, valued at approximately $6.25 million.
• Verizon reported Q2 earnings of $1.22 per share, exceeding analysts' expectations, and revenue increased by 5.2% year-over-year to $34.50 billion.
• The company announced a quarterly dividend increase to $0.69 per share, representing a yield of 6.8%, with the ex-dividend date on October 10th.

Mutual Advisors LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,973 shares of the cell phone carrier's stock after buying an additional 7,326 shares during the quarter. Mutual Advisors LLC's holdings in Verizon Communications were worth $6,245,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VZ. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the second quarter valued at about $25,000. Cherry Tree Wealth Management LLC grew its position in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at about $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $29,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $30,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Price Performance

Shares of VZ stock opened at $40.39 on Thursday. 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 50-day moving average is $43.33 and its two-hundred day moving average is $43.17. 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 $170.29 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 3.06 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. Verizon Communications's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current 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 paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 6.8%. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications's payout ratio is presently 64.34%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VZ. Bank of America lifted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Weiss Ratings reissued a "buy (b-)" rating on shares of Verizon Communications in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Finally, 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 research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.63.

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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