Verizon Communications (NYSE:VZ) Stock Price Up 1.6% - Here's Why

Key Points

• Verizon Communications (NYSE:VZ) stock increased by 1.6% to $43.95, with a trading volume of over 24 million shares, exceeding the average daily volume by 17%.
• The company reported earnings of $1.22 EPS for the last quarter, surpassing estimates, with revenue rising 5.2% year over year to $34.50 billion.
• Verizon has declared a quarterly dividend of $0.69 per share, resulting in a yield of 6.3%, which marks a slight increase from the previous dividend of $0.68.

Verizon Communications Inc. (NYSE:VZ - Get Free Report) was up 1.6% on Tuesday . The company traded as high as $43.97 and last traded at $43.95. Approximately 24,367,252 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 20,869,494 shares. The stock had previously closed at $43.25.

Analyst Ratings Changes

A number of equities analysts have weighed in on VZ shares. JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Wall Street Zen lowered Verizon Communications from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.53.

Verizon Communications Trading Up 1.6%

The firm has a 50-day moving average of $43.59 and a 200-day moving average of $43.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market capitalization of $185.31 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36.

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 return on equity of 19.61% and a net margin of 13.28%.The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the company earned $1.15 EPS. Verizon Communications's revenue for the quarter 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 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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's dividend payout ratio is 63.17%.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC grew its position in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares during the last quarter. Baker Tilly Wealth Management LLC grew its position in shares of Verizon Communications by 27.3% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 17,059 shares of the cell phone carrier's stock worth $774,000 after buying an additional 3,654 shares during the last quarter. Fiduciary Alliance LLC grew its position in shares of Verizon Communications by 2.9% in the 1st quarter. Fiduciary Alliance LLC now owns 26,318 shares of the cell phone carrier's stock worth $1,194,000 after buying an additional 735 shares during the last quarter. NBC Securities Inc. grew its position in shares of Verizon Communications by 109,308.7% in the 1st quarter. NBC Securities Inc. now owns 75,492 shares of the cell phone carrier's stock worth $3,424,000 after buying an additional 75,423 shares during the last quarter. Finally, Sweeney & Michel LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $4,164,000. 62.06% of the stock is currently owned by institutional investors.

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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