Edmp Inc. Raises Stock Position in Verizon Communications Inc. $VZ

Edmp Inc. boosted its holdings in Verizon Communications Inc. (NYSE:VZFree Report) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,131 shares of the cell phone carrier’s stock after purchasing an additional 1,658 shares during the quarter. Verizon Communications comprises 1.7% of Edmp Inc.’s investment portfolio, making the stock its 20th largest holding. Edmp Inc.’s holdings in Verizon Communications were worth $2,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of VZ. Brighton Jones LLC raised its position in Verizon Communications by 61.2% in the 4th 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 raised its position in Verizon Communications by 14.7% in the 1st 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. Wealth Enhancement Advisory Services LLC raised its position in Verizon Communications by 23.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,641,090 shares of the cell phone carrier’s stock valued at $74,440,000 after purchasing an additional 313,457 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Verizon Communications in the 1st quarter valued at $5,484,000. Finally, Sound Income Strategies LLC raised its position in Verizon Communications by 10.9% during the 1st quarter. Sound Income Strategies LLC now owns 15,205 shares of the cell phone carrier’s stock worth $690,000 after buying an additional 1,489 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Bank of America upped their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Verizon Communications in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.63.

Check Out Our Latest Report on VZ

Verizon Communications Stock Performance

NYSE:VZ opened at $39.75 on Tuesday. 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 Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The stock has a market cap of $167.58 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. The firm’s fifty day simple moving average is $43.41 and its 200-day simple moving average is $43.21.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share 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 for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. 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. Investors 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 yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 64.34%.

Verizon Communications Company Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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