WealthTrust Axiom LLC Grows Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• WealthTrust Axiom LLC increased its stake in Verizon Communications by 4.9%, holding 122,587 shares valued at approximately $5.56 million, making it the firm's 13th largest holding.
• Verizon reported earnings of $1.22 per share for the quarter, exceeding estimates, with revenue of $34.50 billion, which was also above expectations.
• The company announced a quarterly dividend of $0.6775 per share, translating to an annual yield of 6.1% and a payout ratio of 63.17%.

WealthTrust Axiom LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,587 shares of the cell phone carrier's stock after purchasing an additional 5,703 shares during the quarter. Verizon Communications comprises about 1.7% of WealthTrust Axiom LLC's portfolio, making the stock its 13th largest holding. WealthTrust Axiom LLC's holdings in Verizon Communications were worth $5,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bernard Wealth Management Corp. grew its stake in shares of Verizon Communications by 81.0% during the 1st 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. Cherry Tree Wealth Management LLC raised its holdings in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $26,000. Accent Capital Management LLC acquired a new position in Verizon Communications in the 1st quarter valued at about $30,000. Finally, Mattson Financial Services LLC grew its position in Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier's stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VZ shares. Morgan Stanley boosted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. Bank of America lifted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Tigress Financial upped their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company upped 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 report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and an average price target of $47.35.

Verizon Communications Stock Down 1.4%

Verizon Communications stock opened at $44.3840 on Monday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a 50 day moving average of $42.80 and a 200-day moving average of $43.15. The stock has a market capitalization of $187.14 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 3.43 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results 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. 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 analyst estimates of $33.47 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. 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. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.6775 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a yield of 6.1%. Verizon Communications's dividend payout ratio (DPR) is presently 63.17%.

Verizon Communications 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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