WealthPlan Investment Management LLC Has $10.23 Million Position in Verizon Communications Inc. $VZ

Key Points

• WealthPlan Investment Management LLC has increased its holdings in Verizon Communications Inc. by 12.1% to a value of $10.23 million, owning a total of 236,417 shares after acquiring additional shares in the 2nd quarter.
• Verizon's quarterly earnings report revealed an EPS of $1.22, surpassing estimates, and the company is maintaining a 6.8% dividend yield, with a recent increase in its quarterly dividend to $0.69 per share.
• Verizon shares have a current market cap of $170.29 billion and the company maintains a consensus target price of $47.63, reflecting a Moderate Buy rating from analysts.

WealthPlan Investment Management LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,417 shares of the cell phone carrier's stock after acquiring an additional 25,527 shares during the period. WealthPlan Investment Management LLC's holdings in Verizon Communications were worth $10,230,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Sargent Investment Group LLC increased its holdings in Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock valued at $323,000 after buying an additional 230 shares during the period. Providence Capital Advisors LLC increased its holdings in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after buying an additional 240 shares during the period. Wright Investors Service Inc. increased its holdings in Verizon Communications by 1.2% in the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier's stock valued at $920,000 after buying an additional 243 shares during the period. Cherry Tree Wealth Management LLC increased its holdings in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 244 shares during the period. Finally, Platform Technology Partners increased its holdings in Verizon Communications by 0.8% in the 1st quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier's stock valued at $1,429,000 after buying an additional 246 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.4%

NYSE:VZ opened at $40.39 on Thursday. The firm's 50 day simple moving average is $43.33 and its 200 day simple moving average is $43.17. 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 Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a market cap of $170.29 billion, a PE ratio of 9.41, a P/E/G ratio of 3.06 and a beta of 0.37.

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 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 earned $1.15 EPS. The firm's 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. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.8%. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is 64.34%.

Analyst Upgrades and Downgrades

Several research firms have commented on VZ. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price on the stock. Wells Fargo & Company lifted 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Verizon Communications in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted 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. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus target price of $47.63.

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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