CreativeOne Wealth LLC Purchases 27,183 Shares of Verizon Communications Inc. $VZ

CreativeOne Wealth LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 13.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 227,733 shares of the cell phone carrier’s stock after purchasing an additional 27,183 shares during the period. CreativeOne Wealth LLC’s holdings in Verizon Communications were worth $10,330,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of VZ. Bernard Wealth Management Corp. grew its holdings in shares of Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. Garde Capital Inc. purchased a new position in Verizon Communications in the first quarter worth $26,000. Cherry Tree Wealth Management LLC grew its stake 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 purchasing an additional 244 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at $32,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.5%

Shares of VZ opened at $43.99 on Wednesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock has a market cap of $185.48 billion, a PE ratio of 10.25, a P/E/G ratio of 3.41 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. The business’s 50-day moving average price is $42.88 and its 200-day moving average price is $43.18.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.6775 dividend. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Thursday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Morgan Stanley upped their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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).