WealthPLAN Partners LLC Cuts Stake in Verizon Communications Inc. $VZ

WealthPLAN Partners LLC cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 26.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,933 shares of the cell phone carrier’s stock after selling 26,740 shares during the period. WealthPLAN Partners LLC’s holdings in Verizon Communications were worth $3,156,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Evernest Financial Advisors LLC boosted its position in shares of Verizon Communications by 6.4% during the second quarter. Evernest Financial Advisors LLC now owns 8,621 shares of the cell phone carrier’s stock valued at $373,000 after buying an additional 519 shares during the last quarter. Tower Wealth Partners Inc. boosted its position in shares of Verizon Communications by 7.4% during the second quarter. Tower Wealth Partners Inc. now owns 10,577 shares of the cell phone carrier’s stock valued at $458,000 after buying an additional 731 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in shares of Verizon Communications by 7.4% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 12,609 shares of the cell phone carrier’s stock valued at $546,000 after buying an additional 866 shares during the last quarter. WealthPlan Investment Management LLC boosted its position in shares of Verizon Communications by 12.1% during the second quarter. WealthPlan Investment Management LLC now owns 236,417 shares of the cell phone carrier’s stock valued at $10,230,000 after buying an additional 25,527 shares during the last quarter. Finally, Uptick Partners LLC boosted its position in shares of Verizon Communications by 10.6% during the second quarter. Uptick Partners LLC now owns 18,228 shares of the cell phone carrier’s stock valued at $789,000 after buying an additional 1,743 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 0.4%

Shares of NYSE:VZ opened at $40.39 on Thursday. The stock has a market capitalization of $170.29 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 3.06 and a beta of 0.37. 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’s 50-day simple moving average is $43.33 and its two-hundred day simple moving average is $43.17. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35.

Verizon Communications (NYSE:VZ) last announced 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 for the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. 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. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is 64.34%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Scotiabank raised their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus 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).