Chung Wu Investment Group LLC Has $159,000 Position in Verizon Communications Inc. $VZ

Chung Wu Investment Group LLC lessened its position in Verizon Communications Inc. (NYSE:VZ) by 35.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,680 shares of the cell phone carrier’s stock after selling 2,000 shares during the period. Chung Wu Investment Group LLC’s holdings in Verizon Communications were worth $159,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the period. Sivia Capital Partners LLC raised its position in shares of Verizon Communications by 4.4% during the first quarter. Sivia Capital Partners LLC now owns 9,794 shares of the cell phone carrier’s stock worth $444,000 after purchasing an additional 413 shares during the period. UMB Bank n.a. lifted its holdings in shares of Verizon Communications by 6.8% during the 1st quarter. UMB Bank n.a. now owns 105,944 shares of the cell phone carrier’s stock valued at $4,806,000 after purchasing an additional 6,771 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Verizon Communications by 12.3% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,656 shares of the cell phone carrier’s stock valued at $347,000 after purchasing an additional 840 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Verizon Communications by 4.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 30,644 shares of the cell phone carrier’s stock worth $1,390,000 after purchasing an additional 1,412 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $43.68 on Monday. 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 50 day moving average price of $43.65 and a 200 day moving average price of $43.35. The stock has a market capitalization of $184.17 billion, a PE ratio of 10.18, a price-to-earnings-growth 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 quarterly earnings results 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 analysts’ expectations of $33.47 billion. During the same quarter last year, the company posted $1.15 earnings per share. The company’s revenue for the quarter 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. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share 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 paid a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is presently 63.17%.

Analysts Set New Price Targets

VZ has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Bank of America increased their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Verizon Communications in a report on Saturday, September 27th. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.53.

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).