Gladwyn Financial Advisors Inc. Purchases New Position in Verizon Communications Inc. $VZ

Gladwyn Financial Advisors Inc. purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,455 shares of the cell phone carrier’s stock, valued at approximately $150,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new stake in Verizon Communications in the 2nd quarter valued at about $25,000. Garde Capital Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at about $26,000. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $29,000. Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $30,000. Finally, RMG Wealth Management LLC acquired a new stake in Verizon Communications in the 2nd quarter valued at about $30,000. 62.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

VZ has been the subject of several research reports. Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Scotiabank raised their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research report on Monday, October 6th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Three investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Stock Up 0.5%

Shares of NYSE:VZ opened at $40.56 on Friday. The company has a 50 day moving average of $43.23 and a 200-day moving average of $43.09. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The stock has a market cap of $170.99 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 3.06 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the firm earned $1.15 EPS. Verizon Communications’s quarterly revenue 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. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.8%. 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. Verizon Communications’s payout ratio is 64.34%.

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).