Frazier Financial Advisors LLC decreased its stake in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 29.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 645 shares of the cell phone carrier’s stock after selling 268 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Verizon Communications were worth $28,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC increased its holdings in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the first quarter worth $26,000. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications during the first quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new stake in Verizon Communications in the 1st quarter worth about $30,000. 62.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on VZ. Scotiabank boosted their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $47.63.
Verizon Communications Stock Down 0.3%
Shares of VZ opened at $39.75 on Tuesday. The business’s 50 day moving average is $43.41 and its 200 day moving average is $43.21. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a market capitalization 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.
Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research 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 given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.9%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) 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).
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