Mccarter Private Wealth Services LLC Takes Position in Verizon Communications Inc. $VZ

Mccarter Private Wealth Services LLC acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,930 shares of the cell phone carrier’s stock, valued at approximately $224,000.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. grew its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications during the first quarter valued at $26,000. Cherry Tree Wealth Management LLC lifted 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 valued at $26,000 after purchasing an additional 244 shares during the period. Accent Capital Management LLC acquired a new position in Verizon Communications during the first quarter valued at $30,000. Finally, EQ Wealth Advisors LLC acquired a new position in Verizon Communications during the first quarter valued at $32,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Tigress Financial boosted their target price on shares of Verizon Communications from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Finally, Bank of America boosted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $47.35.

Verizon Communications Stock Down 0.1%

VZ opened at $45.0350 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $42.77 and a 200 day moving average price of $43.07. The company has a market cap of $189.88 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 3.47 and a beta of 0.36.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business 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. This represents a $2.71 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, July 10th. Verizon Communications’s dividend payout ratio is 63.17%.

About Verizon Communications

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).