Curi RMB Capital LLC Boosts Holdings in Verizon Communications Inc. $VZ

Curi RMB Capital LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 340,542 shares of the cell phone carrier’s stock after buying an additional 13,406 shares during the period. Curi RMB Capital LLC’s holdings in Verizon Communications were worth $15,447,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. BridgePort Financial Solutions LLC bought a new position in shares of Verizon Communications in the 4th quarter worth approximately $381,000. Element Capital Management LLC purchased a new stake in Verizon Communications in the first quarter worth $2,799,000. Meyer Handelman Co. lifted its position in Verizon Communications by 7.4% during the first quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier’s stock valued at $50,393,000 after buying an additional 76,083 shares during the period. Rempart Asset Management Inc. boosted its holdings in shares of Verizon Communications by 52.8% during the 1st quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier’s stock valued at $14,079,000 after buying an additional 107,200 shares in the last quarter. Finally, Welch Group LLC grew its position in shares of Verizon Communications by 5.9% in the 1st quarter. Welch Group LLC now owns 1,137,904 shares of the cell phone carrier’s stock worth $51,126,000 after buying an additional 63,474 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Down 0.2%

Shares of NYSE VZ opened at $43.71 on Thursday. The firm’s 50 day moving average price is $43.12 and its 200-day moving average price is $43.31. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a market cap of $184.28 billion, a PE ratio of 10.19, a P/E/G ratio of 3.41 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data 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. The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VZ. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada raised 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 note on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. upped their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $47.44.

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).