Verizon Communications Inc. $VZ Shares Sold by RB Capital Management LLC

RB Capital Management LLC reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,180 shares of the cell phone carrier’s stock after selling 386 shares during the period. RB Capital Management LLC’s holdings in Verizon Communications were worth $614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Bernard Wealth Management Corp. lifted its position in 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 purchasing an additional 243 shares during the period. 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. Garde Capital Inc. acquired a new position in Verizon Communications during the first quarter valued at $26,000. 1 North Wealth Services LLC acquired a new position in Verizon Communications during the first quarter valued at $29,000. Finally, Accent Capital Management LLC acquired a new position in Verizon Communications during the first quarter valued at $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. 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. 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. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Three investment 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.65.

Verizon Communications Trading Down 0.3%

Shares of Verizon Communications stock opened at $43.99 on Friday. The firm has a 50-day simple moving average of $43.22 and a two-hundred day simple moving average of $43.38. The company has a market cap of $185.48 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.36. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two 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.

Verizon Communications (NYSE:VZ) last issued 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 business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

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).