Interchange Capital Partners LLC Has $54,000 Stock Holdings in Verizon Communications Inc. $VZ

Interchange Capital Partners LLC lessened its position in Verizon Communications Inc. (NYSE:VZ) by 76.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,253 shares of the cell phone carrier’s stock after selling 4,055 shares during the quarter. Interchange Capital Partners LLC’s holdings in Verizon Communications were worth $54,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garde Capital Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $26,000. Cherry Tree Wealth Management LLC raised its position in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares during the last quarter. Bulwark Capital Corp acquired a new stake in Verizon Communications in the 2nd quarter valued at approximately $25,000. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $29,000. Finally, Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Ratings Changes

VZ has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Scotiabank upped their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Finally, Morgan Stanley upped their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Stock Down 0.4%

VZ stock opened at $40.39 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $170.29 billion, a PE ratio of 9.41, a PEG ratio of 3.06 and a beta of 0.37. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The business’s 50 day simple moving average is $43.33 and its 200 day simple moving average is $43.17.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is presently 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).