Rosenberg Matthew Hamilton Purchases 1,892 Shares of Verizon Communications Inc. $VZ

Rosenberg Matthew Hamilton boosted its position in Verizon Communications Inc. (NYSE:VZ) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,333 shares of the cell phone carrier’s stock after acquiring an additional 1,892 shares during the period. Rosenberg Matthew Hamilton’s holdings in Verizon Communications were worth $404,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Bulwark Capital Corp bought a new stake in shares of Verizon Communications during the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC boosted 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 purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications during the 1st quarter valued at about $26,000. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications during the 1st quarter valued at about $29,000. Finally, Accent Capital Management LLC bought a new stake in shares of Verizon Communications during the 1st quarter valued at about $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 2.1%

Shares of Verizon Communications stock opened at $40.57 on Wednesday. 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 stock has a market capitalization of $171.04 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a 50-day simple moving average of $43.37 and a two-hundred day simple moving average of $43.19.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business’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 company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 issued a dividend of $0.69 per share. 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. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. Verizon Communications’s dividend payout ratio is presently 64.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Weiss Ratings reissued 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 issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $47.63.

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).