Verizon Communications Inc. $VZ Shares Purchased by Dakota Wealth Management

Key Points

• Dakota Wealth Management increased its holdings in Verizon Communications by 11.3% during the second quarter, now owning 169,957 shares valued at approximately $7.35 million.
• Multiple analysts have raised their target price for Verizon, with Bank of America setting a new target of $49.00 and the consensus price target currently at $47.53.
• Verizon recently announced an increased quarterly dividend of $0.69 per share, reflecting a yield of 6.4%, with the payment scheduled for November 3rd.

Dakota Wealth Management raised its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,957 shares of the cell phone carrier's stock after acquiring an additional 17,286 shares during the quarter. Dakota Wealth Management's holdings in Verizon Communications were worth $7,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of VZ. Sargent Investment Group LLC lifted its stake in Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Crescent Sterling Ltd. lifted its stake in Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after acquiring an additional 235 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after acquiring an additional 240 shares in the last quarter. Bernard Wealth Management Corp. increased its stake in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the period. Finally, Wright Investors Service Inc. increased its stake in Verizon Communications by 1.2% in the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier's stock valued at $920,000 after buying an additional 243 shares during the period. Institutional investors own 62.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. 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 note on Tuesday, July 22nd. Morgan Stanley raised their target price on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.53.

Verizon Communications Stock Down 0.3%

Shares of VZ opened at $43.21 on Thursday. The company has a market capitalization of $182.17 billion, a P/E ratio of 10.07, a PEG ratio of 3.34 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The business's 50 day simple moving average is $43.47 and its 200-day simple moving average is $43.38.

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 for the quarter, beating 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 business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the business posted $1.15 earnings per share. Verizon Communications's revenue for the quarter 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. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm 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 dividend of $0.69 per share. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio is presently 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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