Verizon Communications Inc. $VZ Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Verizon Communications by 5.1%, selling 45,155 shares during the first quarter, bringing their total holdings to 840,238 shares worth approximately $38.1 million.
• Several institutional investors, including Bernard Wealth Management Corp. and Cherry Tree Wealth Management LLC, increased their stakes significantly in Verizon Communications in the same period, indicating ongoing confidence in the stock.
• Verizon Communications recently reported better-than-expected earnings of $1.22 per share and declared a quarterly dividend with a yield of 6.0%, highlighting its solid financial performance amid a competitive market.

Kestra Advisory Services LLC decreased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 840,238 shares of the cell phone carrier's stock after selling 45,155 shares during the period. Kestra Advisory Services LLC's holdings in Verizon Communications were worth $38,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds 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 period. Cherry Tree Wealth Management LLC increased its stake in Verizon Communications by 71.8% in the 1st 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 1st quarter valued at approximately $26,000. Accent Capital Management LLC purchased a new stake in Verizon Communications during the first quarter worth $30,000. Finally, Mattson Financial Services LLC boosted its position in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock worth $31,000 after buying an additional 415 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective 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. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Bank of America increased their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.35.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $45.0350 on Friday. The company has a market cap of $189.88 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.47 and a beta of 0.36. The business has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $43.07. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. 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 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.6775 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.0%. Verizon Communications's dividend payout ratio is 63.17%.

Verizon Communications Company 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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