Rempart Asset Management Inc. Increases Stock Position in Verizon Communications Inc. $VZ

Rempart Asset Management Inc. raised its stake in Verizon Communications Inc. (NYSE:VZ) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,785 shares of the cell phone carrier’s stock after acquiring an additional 17,395 shares during the period. Verizon Communications accounts for approximately 2.7% of Rempart Asset Management Inc.’s portfolio, making the stock its 21st largest position. Rempart Asset Management Inc.’s holdings in Verizon Communications were worth $14,183,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC grew its stake in Verizon Communications by 18.1% during the 2nd quarter. Sound Income Strategies LLC now owns 17,962 shares of the cell phone carrier’s stock worth $777,000 after buying an additional 2,757 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in shares of Verizon Communications by 222.2% in the second quarter. Global Trust Asset Management LLC now owns 725 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 500 shares during the period. Investment Advisory Services Inc. TX ADV grew its position in shares of Verizon Communications by 7.0% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 4,732 shares of the cell phone carrier’s stock worth $205,000 after acquiring an additional 309 shares during the last quarter. Independence Bank of Kentucky increased its holdings in shares of Verizon Communications by 1.1% in the 2nd quarter. Independence Bank of Kentucky now owns 40,612 shares of the cell phone carrier’s stock valued at $1,757,000 after acquiring an additional 425 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its holdings in shares of Verizon Communications by 4.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 7,909 shares of the cell phone carrier’s stock valued at $342,000 after acquiring an additional 309 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.6%

Shares of Verizon Communications stock opened at $43.60 on Monday. The firm has a market cap of $183.83 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company’s 50-day simple moving average is $43.57 and its 200-day simple moving average is $43.36. 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) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last year, the firm earned $1.15 earnings per share. 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. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is 63.17%.

Analyst Ratings Changes

VZ has been the subject of a number of recent research reports. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price for the company. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock 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, five have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

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).