Verizon Communications Inc. $VZ Shares Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. has reduced its holdings in Verizon Communications by 6.5%, now owning 82,204 shares valued at $3,557,000.
• Verizon Communications announced a quarterly dividend increase to $0.69 per share, with a dividend yield of 6.3%.
• Analysts have raised their price targets for Verizon, with the average target price now at $47.65 and a current average rating of "Moderate Buy".

Value Partners Investments Inc. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,204 shares of the cell phone carrier's stock after selling 5,730 shares during the period. Value Partners Investments Inc.'s holdings in Verizon Communications were worth $3,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VZ. Bernard Wealth Management Corp. increased its position in 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 buying an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC boosted its holdings in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter worth about $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter worth about $29,000. Finally, Accent Capital Management LLC acquired a new position in shares of Verizon Communications during the first quarter valued at about $30,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analyst Ratings Changes

VZ has been the topic of several research analyst reports. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Bank of America boosted their price target on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Stock Performance

Shares of VZ stock opened at $43.99 on Friday. 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. The stock has a market cap of $185.48 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.36. The business has a 50-day simple moving average of $43.22 and a 200-day simple moving average of $43.38.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its 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. 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%.Verizon Communications's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications's payout ratio is presently 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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