BOS Asset Management LLC Acquires 6,411 Shares of Verizon Communications Inc. $VZ

BOS Asset Management LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 34.5% in the first quarter, Holdings Channel.com reports. The firm owned 24,996 shares of the cell phone carrier’s stock after purchasing an additional 6,411 shares during the quarter. BOS Asset Management LLC’s holdings in Verizon Communications were worth $1,134,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. boosted 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. Garde Capital Inc. purchased a new position in shares of Verizon Communications during the 1st quarter worth about $26,000. Cherry Tree Wealth Management LLC boosted its stake 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 purchasing an additional 244 shares during the period. 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the 1st quarter worth about $29,000. Finally, Accent Capital Management LLC purchased a new position in shares of Verizon Communications during the 1st quarter worth about $30,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 0.2%

NYSE:VZ opened at $43.50 on Thursday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. 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 cap of $183.40 billion, a P/E ratio of 10.14, a P/E/G ratio of 3.36 and a beta of 0.36. The firm has a 50-day simple moving average of $43.20 and a 200-day simple moving average of $43.37.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the business posted $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. Equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analysts Forecast Growth

VZ has been the subject of several research reports. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada boosted their price objective 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. The Goldman Sachs Group initiated 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 for the company. Wall Street Zen raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company boosted their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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).