Verizon Communications Inc. $VZ Stake Increased by Bfsg LLC

Key Points

• Bfsg LLC increased its stake in Verizon Communications by 5.4% in the second quarter, bringing its total holdings to 120,970 shares worth approximately $5.23 million.
• Verizon recently announced a quarterly dividend of $0.69 per share, which represents a 6.4% yield, up from the previous $0.68 per share dividend.
• The company's earnings per share for the last quarter were $1.22, exceeding projections, with revenue of $34.50 billion, a 5.2% increase year-over-year.

Bfsg LLC increased its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,970 shares of the cell phone carrier's stock after buying an additional 6,159 shares during the period. Bfsg LLC's holdings in Verizon Communications were worth $5,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sargent Investment Group LLC boosted its holdings in Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after purchasing an additional 230 shares during the period. Crescent Sterling Ltd. boosted its holdings in Verizon Communications by 0.8% in the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after purchasing an additional 235 shares during the period. Providence Capital Advisors LLC boosted its holdings in Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after purchasing an additional 240 shares during the period. Bernard Wealth Management Corp. boosted its holdings in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 243 shares during the period. Finally, Wright Investors Service Inc. boosted its holdings in Verizon Communications by 1.2% in the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier's stock worth $920,000 after purchasing an additional 243 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Price Performance

NYSE VZ opened at $43.21 on Tuesday. The stock's 50-day moving average price is $43.39 and its two-hundred day moving average price is $43.38. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market cap of $182.17 billion, a PE ratio of 10.07, a PEG ratio of 3.35 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.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (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 the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is presently 63.17%.

Analyst Upgrades and Downgrades

A number of research firms have commented on VZ. Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their price target 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. Morgan Stanley boosted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.65.

About Verizon Communications

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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