DMC Group LLC Acquires 1,463 Shares of Verizon Communications Inc. $VZ

DMC Group LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,755 shares of the cell phone carrier’s stock after acquiring an additional 1,463 shares during the period. DMC Group LLC’s holdings in Verizon Communications were worth $768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VZ. Morgan Stanley lifted their target price 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. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target 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 company a “sector perform” rating in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a report on Saturday, September 27th. Finally, Scotiabank lifted their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday. Three 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $41.44 on Wednesday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The stock has a market capitalization of $174.70 billion, a P/E ratio of 9.66, a PEG ratio of 3.20 and a beta of 0.37. The firm has a fifty day simple moving average of $43.60 and a two-hundred day simple moving average of $43.32. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping 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 business had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the company posted $1.15 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is 63.17%.

Verizon Communications 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).