Generali Asset Management SPA SGR Lowers Holdings in Verizon Communications Inc. $VZ

Generali Asset Management SPA SGR trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 18.0% during the 2nd quarter, Holdings Channel reports. The fund owned 400,563 shares of the cell phone carrier’s stock after selling 87,916 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Verizon Communications were worth $17,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sargent Investment Group LLC raised its holdings in 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 purchasing an additional 230 shares during the period. Providence Capital Advisors LLC raised its stake in shares of Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after buying an additional 240 shares during the period. Wright Investors Service Inc. raised its stake in shares of Verizon Communications by 1.2% during the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after buying an additional 243 shares during the period. Cherry Tree Wealth Management LLC lifted its position 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. Finally, Platform Technology Partners grew its stake in Verizon Communications by 0.8% in the 1st quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock valued at $1,429,000 after acquiring an additional 246 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 2.1%

VZ opened at $40.57 on Wednesday. The stock has a market capitalization of $171.04 billion, a PE ratio of 9.46, a P/E/G ratio of 3.00 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 debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The business’s 50 day moving average price is $43.37 and its 200 day moving average price is $43.19.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating 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 company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. Verizon Communications’s revenue for the quarter 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. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. Verizon Communications’s payout ratio is 64.34%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday, October 8th. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Finally, Scotiabank raised their target price on Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research report on Monday, October 6th. Three 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, the stock currently has an average rating of “Moderate Buy” and an average price target 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).