Verizon Communications Inc. $VZ Shares Sold by Caitlin John LLC

Key Points

• Caitlin John LLC reduced its holdings in Verizon Communications by 26.2% in Q1, selling 11,517 shares, and now holds 32,407 shares valued at approximately $1.47 million.
• Bernard Wealth Management and Cherry Tree Wealth Management increased their positions in Verizon by 81.0% and 71.8%, respectively, indicating growing institutional interest, with over 62.06% of the company owned by institutional investors.
• Verizon reported strong Q2 earnings with an EPS of $1.22, exceeding estimates, and announced a quarterly dividend of $0.6775 per share, reflecting a yield of 6.1%.

Caitlin John LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 26.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,407 shares of the cell phone carrier's stock after selling 11,517 shares during the quarter. Verizon Communications accounts for approximately 1.4% of Caitlin John LLC's portfolio, making the stock its 12th biggest position. Caitlin John LLC's holdings in Verizon Communications were worth $1,470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. increased 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 purchasing an additional 243 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $26,000. Cherry Tree Wealth Management LLC increased 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 worth $26,000 after purchasing an additional 244 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $30,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $32,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on VZ shares. Arete Research raised Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. 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. 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. 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. Finally, Royal Bank Of Canada lifted their target price on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.35.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $44.3840 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a market cap of $187.14 billion, a PE ratio of 10.35, a P/E/G ratio of 3.47 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 business has a 50-day simple moving average of $42.80 and a 200-day simple moving average of $43.10.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.61% and a net margin of 13.28%.The business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The business's revenue for the quarter 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, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.6775 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.1%. 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).

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.