Promethium Advisors LLC Buys 3,400 Shares of Verizon Communications Inc. $VZ

Promethium Advisors LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 56.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,400 shares of the cell phone carrier’s stock after purchasing an additional 3,400 shares during the quarter. Promethium Advisors LLC’s holdings in Verizon Communications were worth $426,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Bernard Wealth Management Corp. raised its position 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 worth $25,000 after acquiring an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% during 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. Garde Capital Inc. bought a new position in Verizon Communications during the 1st quarter worth approximately $26,000. Accent Capital Management LLC acquired a new position in shares of Verizon Communications in the 1st quarter worth approximately $30,000. Finally, Mattson Financial Services LLC boosted its stake in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 415 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 0.7%

NYSE VZ opened at $44.24 on Tuesday. 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 has a 50 day moving average price of $43.07 and a 200-day moving average price of $43.30. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a market cap of $186.53 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 3.41 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications’s payout ratio is currently 63.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VZ shares. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group set a $49.00 target price on Verizon Communications in a research note on Tuesday. Royal Bank Of Canada boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. 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 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 company’s stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $47.44.

Verizon Communications Company 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).