Aspire Growth Partners LLC Sells 1,054 Shares of Verizon Communications Inc. $VZ

Aspire Growth Partners LLC decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 16,020 shares of the cell phone carrier’s stock after selling 1,054 shares during the period. Aspire Growth Partners LLC’s holdings in Verizon Communications were worth $703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock valued at $16,700,279,000 after buying an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock worth $4,983,225,000 after purchasing an additional 1,172,175 shares during the period. GQG Partners LLC boosted its stake in Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock worth $2,261,648,000 after purchasing an additional 37,516,167 shares during the period. Northern Trust Corp boosted its stake in Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock worth $2,062,750,000 after purchasing an additional 431,789 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Verizon Communications by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier’s stock worth $1,555,351,000 after purchasing an additional 4,568,518 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $44.9350 on Wednesday. The company’s 50 day moving average price is $42.71 and its two-hundred day moving average price is $43.02. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market cap of $189.46 billion, a PE ratio of 10.47, a PEG ratio of 3.42 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s 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. Equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a dividend of $0.6775 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. boosted 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. Royal Bank Of Canada upped their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Scotiabank upped their target price on shares of Verizon Communications from $48.50 to $49.00 and gave the company a “sector perform” rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley upped their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.35.

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).