Mutual of America Capital Management LLC Cuts Stake in Verizon Communications Inc. $VZ

Mutual of America Capital Management LLC lessened its position in Verizon Communications Inc. (NYSE:VZ) by 1.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 501,643 shares of the cell phone carrier’s stock after selling 6,055 shares during the period. Mutual of America Capital Management LLC’s holdings in Verizon Communications were worth $21,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $26,000. Bulwark Capital Corp purchased a new position in Verizon Communications in the second quarter worth $25,000. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the first quarter valued at $29,000. Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter worth $30,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the 1st quarter worth $32,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

VZ stock opened at $40.56 on Friday. The stock’s 50 day moving average price is $43.23 and its 200 day moving average price is $43.09. The firm has a market cap of $170.99 billion, a P/E ratio of 9.45, a PEG ratio of 3.06 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly 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. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter 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 expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VZ. Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Morgan Stanley boosted their price target 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. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Three equities research 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.63.

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).