Gradient Investments LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 252.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,629 shares of the cell phone carrier’s stock after acquiring an additional 11,193 shares during the period. Gradient Investments LLC’s holdings in Verizon Communications were worth $662,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Strengthening Families & Communities LLC grew its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares in the last quarter. Robinswood Financial LLC purchased a new stake in shares of Verizon Communications during the 1st quarter worth about $27,000. Lam Group Inc. purchased a new stake in shares of Verizon Communications during the 1st quarter worth about $28,000. EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its holdings in shares of Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VZ has been the topic of a number of research reports. Royal Bank Of Canada increased their price objective on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Morgan Stanley boosted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Scotiabank increased their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and an average price target of $50.84.
Verizon Communications Stock Performance
NYSE:VZ opened at $47.02 on Tuesday. The firm has a market capitalization of $195.36 billion, a PE ratio of 12.24, a PEG ratio of 1.31 and a beta of 0.25. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $46.81.
Verizon Communications (NYSE:VZ – Get Free Report) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The firm had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The business’s revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current year.
Verizon Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s payout ratio is currently 73.70%.
About Verizon Communications
Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.
The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.
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