Asset Planning Inc Has $2.33 Million Stake in Verizon Communications Inc. $VZ

Asset Planning Inc trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,926 shares of the cell phone carrier’s stock after selling 448 shares during the period. Verizon Communications accounts for approximately 1.7% of Asset Planning Inc’s investment portfolio, making the stock its 13th biggest position. Asset Planning Inc’s holdings in Verizon Communications were worth $2,333,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of 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 purchasing an additional 16,704 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Verizon Communications by 14.7% in the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock valued at $3,114,000 after purchasing an additional 8,800 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of Verizon Communications by 14.5% in the first quarter. Krilogy Financial LLC now owns 22,314 shares of the cell phone carrier’s stock valued at $1,012,000 after purchasing an additional 2,833 shares during the last quarter. Signature Resources Capital Management LLC increased its holdings in shares of Verizon Communications by 13.0% in the first quarter. Signature Resources Capital Management LLC now owns 3,688 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 425 shares during the last quarter. Finally, Powers Advisory Group LLC increased its holdings in shares of Verizon Communications by 4.9% in the first quarter. Powers Advisory Group LLC now owns 13,155 shares of the cell phone carrier’s stock valued at $597,000 after purchasing an additional 613 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 2.4%

VZ opened at $39.86 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a 50-day simple moving average of $43.48 and a 200 day simple moving average of $43.25. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $168.05 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $1.15 earnings per share. Verizon Communications’s revenue 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 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Analyst Ratings Changes

VZ has been the topic of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Bank of America upped their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Morgan Stanley upped 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. Finally, Wall Street Zen downgraded shares of 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 given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

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).