Verizon Communications Inc. $VZ is Martin Capital Partners LLC’s 8th Largest Position

Martin Capital Partners LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 220.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 180,913 shares of the cell phone carrier’s stock after acquiring an additional 124,486 shares during the period. Verizon Communications makes up 3.1% of Martin Capital Partners LLC’s holdings, making the stock its 8th biggest holding. Martin Capital Partners LLC’s holdings in Verizon Communications were worth $7,828,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. grew its position in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC boosted its stake in shares of Verizon Communications by 71.8% in 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 stake in Verizon Communications during the 1st quarter valued at $26,000. 1 North Wealth Services LLC purchased a new stake in Verizon Communications during the 1st quarter worth $29,000. Finally, Accent Capital Management LLC acquired a new position in Verizon Communications in the 1st quarter worth $30,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on VZ shares. Morgan Stanley raised their target price on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” 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 on the stock. Wells Fargo & Company increased their target price on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Bank of America lifted 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. Finally, JPMorgan Chase & Co. increased their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.65.

Verizon Communications Stock Performance

VZ stock opened at $43.99 on Monday. The stock’s 50 day simple moving average is $43.22 and its 200 day simple moving average is $43.38. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market cap of $185.48 billion, a P/E ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. 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).