Trinity Legacy Partners LLC Boosts Stake in Verizon Communications Inc. $VZ

Key Points

• Trinity Legacy Partners LLC increased its holdings in Verizon Communications Inc. by 76.2% in the first quarter, now owning 98,393 shares valued at approximately $4.2 million.
• Verizon reported earnings of $1.22 per share for the last quarter, surpassing analyst expectations, with total revenue of $34.5 billion, a 5.2% increase year-over-year.
• The company recently declared a quarterly dividend of $0.6775 per share, which reflects a 6.1% dividend yield.

Trinity Legacy Partners LLC lifted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 76.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,393 shares of the cell phone carrier's stock after buying an additional 42,556 shares during the period. Trinity Legacy Partners LLC's holdings in Verizon Communications were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of VZ. GQG Partners LLC boosted its stake in shares of 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 buying an additional 37,516,167 shares during the last quarter. Nuveen LLC purchased a new position in shares of Verizon Communications in the 1st quarter worth $661,720,000. Pacer Advisors Inc. boosted its stake in shares of Verizon Communications by 737.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock worth $530,576,000 after buying an additional 10,300,369 shares during the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Verizon Communications by 3,601.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 8,937,180 shares of the cell phone carrier's stock worth $357,398,000 after buying an additional 8,695,736 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Verizon Communications by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock worth $1,434,572,000 after buying an additional 5,392,416 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded down $0.6460 on Friday, reaching $44.3840. 19,108,248 shares of the company's stock traded hands, compared to its average volume of 16,005,941. 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 $42.80 and a 200-day simple moving average of $43.15. The firm has a market cap of $187.14 billion, a PE ratio of 10.35, a P/E/G ratio of 3.43 and a beta of 0.36. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $34.50 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Thursday, July 10th. Verizon Communications's payout ratio is currently 63.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Tigress Financial lifted their target price on Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company lifted their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and an average price target of $47.35.

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).