Verizon Communications Inc. $VZ Shares Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 20.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,057 shares of the cell phone carrier’s stock after acquiring an additional 1,698 shares during the period. LGT Fund Management Co Ltd.’s holdings in Verizon Communications were worth $435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in VZ. Bernard Wealth Management Corp. increased its position in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares during the period. Garde Capital Inc. acquired a new position in Verizon Communications during the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the period. Bulwark Capital Corp acquired a new position in Verizon Communications during the second quarter worth approximately $25,000. Finally, 1 North Wealth Services LLC acquired a new position in Verizon Communications during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a report on Saturday, September 27th. Finally, Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Stock Up 0.6%

Verizon Communications stock opened at $43.68 on Friday. 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 Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a market cap of $184.17 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. The stock’s 50 day moving average price is $43.65 and its 200 day moving average price is $43.35.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The company 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 quarterly 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 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 63.17%.

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).