Verizon Communications Inc. $VZ Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,880 shares of the cell phone carrier’s stock after selling 700 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Verizon Communications were worth $990,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in VZ. Bernard Wealth Management Corp. increased its position in shares of Verizon Communications by 81.0% during the first 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 in the last quarter. Bulwark Capital Corp acquired a new position in shares of Verizon Communications during the second quarter worth $25,000. Cherry Tree Wealth Management LLC increased its position in shares of Verizon Communications by 71.8% during the first 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 in the last quarter. Garde Capital Inc. acquired a new position in shares of Verizon Communications during the first quarter worth $26,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications during the first quarter worth $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

NYSE:VZ opened at $43.60 on Monday. 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 $183.83 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.37 and a beta of 0.36. The firm’s fifty day moving average is $43.57 and its two-hundred day moving average is $43.36.

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 company 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 company earned $1.15 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on VZ. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Morgan Stanley upped their target price on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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).