Adamsbrown Wealth Consultants LLC Sells 417 Shares of Verizon Communications Inc. $VZ

Adamsbrown Wealth Consultants LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,848 shares of the cell phone carrier’s stock after selling 417 shares during the quarter. Adamsbrown Wealth Consultants LLC’s holdings in Verizon Communications were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Sargent Investment Group LLC boosted its position in shares of Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock valued at $323,000 after acquiring an additional 230 shares during the period. Crescent Sterling Ltd. boosted its position in shares of Verizon Communications by 0.8% in the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock valued at $1,402,000 after acquiring an additional 235 shares during the period. Providence Capital Advisors LLC boosted its position in shares of Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after acquiring an additional 240 shares during the period. 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 worth $25,000 after purchasing an additional 243 shares during the period. Finally, 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 worth $26,000 after purchasing an additional 244 shares during the period. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on VZ. JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. 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. Wall Street Zen raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $47.65.

Verizon Communications Stock Down 0.3%

VZ stock opened at $43.99 on Monday. The firm has a 50-day moving average price of $43.22 and a 200-day moving average price of $43.38. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $185.48 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 3.39 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 the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. This is an increase 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 of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is currently 63.17%.

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).