Verizon Communications Inc. $VZ Stock Holdings Lifted by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its holdings in Verizon Communications by 55.6% in the second quarter, owning a total of 116,018 shares valued at $5,020,000.
• Verizon reported a quarterly earnings per share of $1.22, exceeding analysts' estimates of $1.19, with a revenue increase of 5.2% year-over-year.
• The company announced an increase in its quarterly dividend to $0.69 per share, with a dividend yield of 6.7% and a payout ratio of 64.34%.

Shell Asset Management Co. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 55.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,018 shares of the cell phone carrier's stock after acquiring an additional 41,451 shares during the quarter. Shell Asset Management Co.'s holdings in Verizon Communications were worth $5,020,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. TriaGen Wealth Management LLC lifted its position in shares of Verizon Communications by 9.3% in the second quarter. TriaGen Wealth Management LLC now owns 11,869 shares of the cell phone carrier's stock worth $514,000 after buying an additional 1,008 shares during the last quarter. Joel Isaacson & Co. LLC raised its position in shares of Verizon Communications by 8.7% during the second quarter. Joel Isaacson & Co. LLC now owns 49,598 shares of the cell phone carrier's stock valued at $2,146,000 after buying an additional 3,955 shares during the last quarter. Sachetta LLC grew its holdings in shares of Verizon Communications by 3.7% during the 2nd quarter. Sachetta LLC now owns 8,112 shares of the cell phone carrier's stock worth $351,000 after purchasing an additional 292 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in Verizon Communications by 3.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,037,024 shares of the cell phone carrier's stock valued at $88,142,000 after buying an additional 60,000 shares during the period. Finally, RMG Wealth Management LLC acquired a new position in shares of Verizon Communications in the 2nd quarter worth approximately $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 5.0%

NYSE VZ opened at $41.49 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a market capitalization of $174.94 billion, a PE ratio of 9.67, a P/E/G ratio of 3.37 and a beta of 0.37. The stock has a 50-day simple moving average of $43.63 and a 200 day simple moving average of $43.33.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $33.47 billion. During the same period last year, the company posted $1.15 EPS. Verizon Communications's revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed 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 boost from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. Verizon Communications's dividend payout ratio (DPR) is presently 64.34%.

Wall Street Analyst Weigh In

A number of research firms recently commented on VZ. Scotiabank increased their price target on Verizon Communications from $50.00 to $50.50 and gave the stock a "sector perform" rating in a research report on Monday. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and an average target price of $47.63.

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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