Verizon Communications Inc. $VZ Shares Purchased by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Verizon Communications by 27.2% during the first quarter, now owning over 1 million shares valued at approximately $48.7 million.
• Verizon recently reported a quarterly earnings per share (EPS) of $1.22, exceeding expectations, and is guiding towards an FY 2025 EPS range of 4.636-4.728.
• The company declared a quarterly dividend of $0.69, representing a yield of 6.3%, which is an increase from the previous $0.68 dividend.

Jones Financial Companies Lllp boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 27.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,084,780 shares of the cell phone carrier's stock after purchasing an additional 231,671 shares during the period. Jones Financial Companies Lllp's holdings in Verizon Communications were worth $48,748,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted 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 valued at $25,000 after acquiring an additional 243 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at $26,000. Cherry Tree Wealth Management LLC lifted its position in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at $29,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research analyst reports. Bank of America increased their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Finally, 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 note on Thursday, July 10th. Three equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.65.

Verizon Communications Price Performance

VZ opened at $43.99 on Monday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The firm has a market capitalization of $185.48 billion, a PE ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36. 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 fifty day moving average price of $43.22 and a two-hundred day moving average price of $43.38.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (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 company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The firm's 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. As a group, analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.3%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is presently 63.17%.

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).

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