Capital City Trust Co. FL Has $350,000 Holdings in Verizon Communications Inc. $VZ

Capital City Trust Co. FL raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 9.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,098 shares of the cell phone carrier’s stock after buying an additional 688 shares during the quarter. Capital City Trust Co. FL’s holdings in Verizon Communications were worth $350,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tandem Investment Partners LLC lifted its holdings in shares of Verizon Communications by 11.8% during the second quarter. Tandem Investment Partners LLC now owns 11,235 shares of the cell phone carrier’s stock worth $486,000 after buying an additional 1,185 shares during the last quarter. Hill Island Financial LLC acquired a new position in shares of Verizon Communications during the second quarter worth approximately $214,000. Berger Financial Group Inc lifted its holdings in shares of Verizon Communications by 5.3% during the second quarter. Berger Financial Group Inc now owns 10,856 shares of the cell phone carrier’s stock worth $470,000 after buying an additional 547 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in shares of Verizon Communications by 18.0% during the second quarter. Boston Common Asset Management LLC now owns 551,019 shares of the cell phone carrier’s stock worth $23,843,000 after buying an additional 83,930 shares during the last quarter. Finally, Clarius Group LLC lifted its holdings in shares of Verizon Communications by 8.1% during the second quarter. Clarius Group LLC now owns 20,752 shares of the cell phone carrier’s stock worth $898,000 after buying an additional 1,549 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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 note on Tuesday, July 22nd. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. 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 note on Tuesday, July 22nd. Finally, Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Price Performance

Shares of VZ stock opened at $43.68 on Friday. The stock’s fifty day moving average is $43.65 and its 200-day moving average is $43.35. 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 stock has a market capitalization of $184.17 billion, a PE ratio of 10.18, a PEG ratio of 3.37 and a beta of 0.37. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 issued a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

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).