Sava Infond d.o.o. Invests $233,000 in Verizon Communications Inc. $VZ

Sava Infond d.o.o. bought a new position in Verizon Communications Inc. (NYSE:VZ) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,380 shares of the cell phone carrier’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. boosted its stake in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the 1st quarter worth approximately $26,000. Cherry Tree Wealth Management LLC boosted its stake in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Bulwark Capital Corp purchased a new position in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on VZ. Morgan Stanley upped their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Royal Bank Of Canada upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” 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. Finally, Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Trading Up 0.6%

NYSE:VZ opened at $43.68 on Friday. The company has a market cap of $184.17 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.35 and a beta of 0.37. The stock’s fifty day moving average price is $43.65 and its two-hundred day moving average price is $43.36. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last posted its 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. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

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

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).