Future Financial Wealth Managment LLC Boosts Stake in Verizon Communications Inc. $VZ

Future Financial Wealth Managment LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,018 shares of the cell phone carrier’s stock after buying an additional 321 shares during the quarter. Verizon Communications accounts for 0.7% of Future Financial Wealth Managment LLC’s investment portfolio, making the stock its 28th biggest position. Future Financial Wealth Managment LLC’s holdings in Verizon Communications were worth $996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in VZ. Bernard Wealth Management Corp. raised its holdings 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 valued at $25,000 after buying an additional 243 shares in the last quarter. Bulwark Capital Corp purchased a new position in shares of Verizon Communications during the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC raised its stake 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 acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ stock opened at $43.68 on Friday. The firm’s 50-day moving average price is $43.65 and its two-hundred day moving average price is $43.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market capitalization of $184.17 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.35 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the business earned $1.15 EPS. Verizon Communications’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 analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank Of Canada lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wells Fargo & Company lifted their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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).