Independent Solutions Wealth Management LLC Has $1.58 Million Holdings in Verizon Communications Inc. $VZ

Independent Solutions Wealth Management LLC increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,503 shares of the cell phone carrier’s stock after acquiring an additional 2,293 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Verizon Communications were worth $1,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VZ. Sargent Investment Group LLC raised its holdings in shares of Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after acquiring an additional 230 shares during the last quarter. Crescent Sterling Ltd. grew its holdings in shares of Verizon Communications by 0.8% in the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock valued at $1,402,000 after acquiring an additional 235 shares in the last quarter. Providence Capital Advisors LLC increased its position in shares of Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after acquiring an additional 240 shares during the last quarter. Bernard Wealth Management Corp. lifted its holdings in 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 acquiring an additional 243 shares during the period. Finally, Wright Investors Service Inc. boosted its position in Verizon Communications by 1.2% in the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on VZ shares. Scotiabank lifted their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” 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, Bank of America boosted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. 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 company’s stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Down 5.0%

VZ opened at $41.49 on Tuesday. The firm has a market capitalization of $174.94 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a fifty day moving average price of $43.63 and a 200-day moving average price of $43.33. 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 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous 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 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is 64.34%.

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).