Verizon Communications Inc. $VZ Stake Decreased by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Verizon Communications by 47.1% in the second quarter, owning 193,712 shares after selling 172,658 shares.
• Verizon reported a net revenue increase of 5.2% year-over-year, achieving $34.50 billion for the quarter and an EPS of $1.22, beating estimates.
• The company announced a quarterly dividend increase from $0.68 to $0.69, resulting in a 6.9% yield for investors, with the payout set for November 3rd.

Atria Wealth Solutions Inc. lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 47.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 193,712 shares of the cell phone carrier's stock after selling 172,658 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Verizon Communications were worth $8,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GQG Partners LLC raised its holdings in Verizon Communications by 303.9% during the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock worth $2,261,648,000 after purchasing an additional 37,516,167 shares in the last quarter. Nuveen LLC acquired a new position in shares of Verizon Communications during the 1st quarter valued at $661,720,000. Pacer Advisors Inc. raised its stake in shares of Verizon Communications by 737.5% in the 1st quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock worth $530,576,000 after buying an additional 10,300,369 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Verizon Communications by 301.2% in the first quarter. Acadian Asset Management LLC now owns 8,504,920 shares of the cell phone carrier's stock valued at $385,750,000 after buying an additional 6,385,197 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Verizon Communications by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock worth $1,434,572,000 after acquiring an additional 5,392,416 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 2.4%

Verizon Communications stock opened at $39.86 on Monday. The firm's 50 day moving average price is $43.48 and its two-hundred day moving average price is $43.24. The firm has a market cap of $168.05 billion, a PE ratio of 9.29, a P/E/G ratio of 3.00 and a beta of 0.37. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. 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 posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. During the same period in the previous year, the company posted $1.15 EPS. Verizon Communications's revenue 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, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio is currently 64.34%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on VZ shares. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Verizon Communications from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Three investment 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $47.63.

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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