Veery Capital LLC Decreases Stock Holdings in Verizon Communications Inc. $VZ

Veery Capital LLC reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 15.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,706 shares of the cell phone carrier’s stock after selling 882 shares during the quarter. Veery Capital LLC’s holdings in Verizon Communications were worth $204,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. raised its stake in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC grew 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 buying an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in Verizon Communications during the first quarter worth about $26,000. 1 North Wealth Services LLC bought a new stake in Verizon Communications in the first quarter worth about $29,000. Finally, Accent Capital Management LLC purchased a new position in Verizon Communications in the first quarter valued at about $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $43.99 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The business has a fifty day moving average price of $43.22 and a 200-day moving average price of $43.38. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a market capitalization of $185.48 billion, a P/E ratio of 10.25, a PEG ratio of 3.40 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last released 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. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VZ shares. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their price target on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Three 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. According to MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.65.

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).