Foster & Motley Inc. Boosts Stock Position in Verizon Communications Inc. $VZ

Foster & Motley Inc. grew its position in Verizon Communications Inc. (NYSE:VZ) by 30.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 137,722 shares of the cell phone carrier’s stock after purchasing an additional 32,054 shares during the quarter. Foster & Motley Inc.’s holdings in Verizon Communications were worth $5,959,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sargent Investment Group LLC boosted its position in Verizon Communications by 3.3% during the first 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 in the last quarter. Providence Capital Advisors LLC lifted its position in shares of Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after acquiring an additional 240 shares in the last quarter. Wright Investors Service Inc. increased its holdings in shares of Verizon Communications by 1.2% in the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC increased its holdings in shares of Verizon Communications by 71.8% in the first 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 during the last quarter. Finally, Platform Technology Partners increased its holdings in shares of Verizon Communications by 0.8% in the first quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock valued at $1,429,000 after purchasing an additional 246 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.5%

Shares of NYSE:VZ opened at $40.56 on Friday. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week 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 company has a market cap of $170.99 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.04 and a beta of 0.37. The stock’s 50-day moving average is $43.23 and its 200-day moving average is $43.10.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 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 the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

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

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent analyst reports. 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 note on Tuesday, July 22nd. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price for the company. Scotiabank increased their target price on Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company raised their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.63.

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).