U.S. Capital Wealth Advisors LLC Acquires 35,450 Shares of Verizon Communications Inc. $VZ

Key Points

• U.S. Capital Wealth Advisors LLC increased its stake in Verizon Communications by 18.5%, owning 227,328 shares valued at approximately $9.84 million as of the most recent reporting period.
• Multiple institutional investors, including GQG Partners and Pacer Advisors, significantly raised their holdings in Verizon, with GQG increasing its stake by 303.9%.
• Verizon has announced a quarterly dividend increase to $0.69, representing an annualized yield of 6.3%, with the payout scheduled for November 3rd.

U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 227,328 shares of the cell phone carrier's stock after acquiring an additional 35,450 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Verizon Communications were worth $9,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of VZ. Kestra Investment Management LLC boosted its stake in shares of Verizon Communications by 121.8% in the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier's stock valued at $8,007,000 after purchasing an additional 96,931 shares in the last quarter. BridgePort Financial Solutions LLC acquired a new stake in Verizon Communications during the 4th quarter worth approximately $381,000. Element Capital Management LLC acquired a new stake in Verizon Communications during the 1st quarter worth approximately $2,799,000. Meyer Handelman Co. raised its holdings in Verizon Communications by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier's stock worth $50,393,000 after buying an additional 76,083 shares during the period. Finally, Rempart Asset Management Inc. raised its holdings in Verizon Communications by 52.8% during the 1st quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier's stock worth $14,079,000 after buying an additional 107,200 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Price Performance

VZ stock traded down $0.28 during midday trading on Monday, reaching $43.21. The company had a trading volume of 18,496,468 shares, compared to its average volume of 16,403,802. The company has a market capitalization of $182.17 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36. The stock has a 50 day moving average price of $43.39 and a 200-day moving average price of $43.38. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. 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 (NYSE:VZ - Get Free Report) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm 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 business posted $1.15 earnings per share. The business'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. Equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. Verizon Communications's dividend payout ratio (DPR) is currently 63.17%.

Wall Street Analyst Weigh In

Several analysts have commented on VZ shares. Morgan Stanley raised their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report 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 price objective on the stock. Wall Street Zen raised shares of Verizon Communications from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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).