Verizon Communications Inc. $VZ Shares Sold by Stoneridge Investment Partners LLC

Key Points

• Stoneridge Investment Partners LLC reduced its stake in Verizon Communications by 57.2% in the first quarter, leaving it with 28,700 shares worth approximately $1.3 million.
• Verizon reported a 12-month revenue growth of 5.2%, achieving $34.5 billion in revenue and an EPS of $1.22, exceeding the consensus estimate of $1.19.
• The company declared a quarterly dividend of $0.6775, reflecting an annualized dividend yield of 6.0% and a payout ratio of 63.17%.

Stoneridge Investment Partners LLC trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 57.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,700 shares of the cell phone carrier's stock after selling 38,403 shares during the quarter. Stoneridge Investment Partners LLC's holdings in Verizon Communications were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of VZ. Bernard Wealth Management Corp. lifted its holdings in shares of 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. Cherry Tree Wealth Management LLC raised its holdings in Verizon Communications by 71.8% during the first 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. Garde Capital Inc. purchased a new position in Verizon Communications during the first quarter worth $26,000. Accent Capital Management LLC purchased a new position in Verizon Communications during the first quarter worth $30,000. Finally, Mattson Financial Services LLC increased its position in Verizon Communications by 114.6% during the fourth 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 owned by institutional investors and hedge funds.

Verizon Communications Trading Up 1.2%

Shares of VZ opened at $44.9350 on Wednesday. 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 12 month low of $37.58 and a 12 month high of $47.35. The stock's 50-day moving average is $42.71 and its two-hundred day moving average is $43.02. The stock has a market cap of $189.46 billion, a PE ratio of 10.47, a P/E/G ratio of 3.42 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company's revenue 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. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada lifted their price objective 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. Finally, Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Three equities research 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.35.

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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