Verizon Communications Inc. $VZ Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its stake in Verizon Communications by 1.9%, holding 1,093,498 shares valued at approximately $49.6 million after selling 20,814 shares in the first quarter.
• Verizon Communications reported $1.22 earnings per share, exceeding analysts' expectations, with quarterly revenue of $34.5 billion, up 5.2% from the previous year.
• Verizon recently announced a quarterly dividend of $0.6775, which translates to an annualized dividend yield of 6.1% and a payout ratio of 63.17%.

MetLife Investment Management LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,093,498 shares of the cell phone carrier's stock after selling 20,814 shares during the period. MetLife Investment Management LLC's holdings in Verizon Communications were worth $49,601,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VZ. Brighton Jones LLC lifted its position in shares of Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after purchasing an additional 16,704 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in Verizon Communications by 10.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 509,961 shares of the cell phone carrier's stock valued at $20,393,000 after acquiring an additional 50,184 shares in the last quarter. Capital Analysts LLC raised its holdings in Verizon Communications by 7.0% in the fourth quarter. Capital Analysts LLC now owns 84,406 shares of the cell phone carrier's stock valued at $3,376,000 after acquiring an additional 5,530 shares in the last quarter. Crossingbridge Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $400,000. Finally, Oxford Asset Management LLP acquired a new stake in Verizon Communications in the fourth quarter valued at $2,304,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Down 1.4%

Shares of NYSE:VZ opened at $44.3840 on Friday. The stock has a market capitalization of $187.14 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 3.43 and a beta of 0.36. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company's fifty day moving average is $42.80 and its two-hundred day moving average is $43.13. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America upped their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada upped their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Tigress Financial upped their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the company a "buy" rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and a consensus price target of $47.35.

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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