Verizon Communications Inc. $VZ Shares Bought by XML Financial LLC

Key Points

• XML Financial LLC raised its position in Verizon Communications by 3.9% during the second quarter, acquiring an additional 6,411 shares, bringing their total holdings to 169,405 shares worth $7,330,000.
• Several analysts have recently set price targets for Verizon, with Goldman Sachs initiating coverage with a "buy" rating and a target of $49.00, and others adjusting their targets between $42.00 to $49.00.
• Verizon announced an increase in its quarterly dividend to $0.69, effective November 3rd, which reflects a 6.4% dividend yield and a payout ratio of 63.17%.

XML Financial LLC raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,405 shares of the cell phone carrier's stock after acquiring an additional 6,411 shares during the quarter. XML Financial LLC's holdings in Verizon Communications were worth $7,330,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bernard Wealth Management Corp. boosted its position in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp purchased a new stake in Verizon Communications during the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC boosted its holdings in 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 in the last quarter. Garde Capital Inc. purchased a new position in Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in Verizon Communications during the first quarter worth approximately $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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 price target on the stock. Wells Fargo & Company lifted their target price on 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. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen lowered Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.53.

Verizon Communications Trading Down 0.9%

Shares of Verizon Communications stock opened at $43.23 on Tuesday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market cap of $182.27 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. The company has a 50-day moving average of $43.59 and a two-hundred day moving average of $43.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly 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. 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 analyst estimates of $33.47 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The company'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. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS 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. Investors of record on Friday, October 10th will be given a $0.69 dividend. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. Verizon Communications's dividend payout ratio is 63.17%.

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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