Vigilare Wealth Management Has $670,000 Position in Verizon Communications Inc. $VZ

Key Points

• Vigilare Wealth Management increased its position in Verizon Communications by 118.8% in Q2, holding 15,475 shares worth $670,000 according to a recent SEC filing.
• Verizon Communications reported a net revenue of $34.50 billion for the last quarter, surpassing analysts' expectations of $33.47 billion, with earnings per share (EPS) of $1.22.
• Verizon announced a quarterly dividend increase to $0.69, representing a 6.3% yield, with an ex-dividend date of Friday, October 10th.

Vigilare Wealth Management grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 118.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,475 shares of the cell phone carrier's stock after acquiring an additional 8,401 shares during the period. Vigilare Wealth Management's holdings in Verizon Communications were worth $670,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Verizon Communications by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock worth $16,700,279,000 after acquiring an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock valued at $4,983,225,000 after buying an additional 1,172,175 shares during the period. GQG Partners LLC grew its stake in shares of Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after buying an additional 37,516,167 shares during the period. Northern Trust Corp grew its stake in shares of Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after buying an additional 431,789 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Verizon Communications by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier's stock valued at $1,904,840,000 after buying an additional 3,100,342 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VZ. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday, September 26th. Wells Fargo & Company raised their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price for the company. Finally, Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and an average price target of $47.53.

Verizon Communications Price Performance

VZ stock opened at $43.95 on Wednesday. The company has a market capitalization of $185.31 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. 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 Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The business has a 50-day simple moving average of $43.61 and a two-hundred day simple moving average of $43.36.

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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter last year, the firm earned $1.15 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared 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 a boost 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 dividend on an annualized basis 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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