Fiduciary Alliance LLC Raises Holdings in Verizon Communications Inc. $VZ

Fiduciary Alliance LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 24.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 32,660 shares of the cell phone carrier’s stock after buying an additional 6,342 shares during the quarter. Fiduciary Alliance LLC’s holdings in Verizon Communications were worth $1,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sargent Investment Group LLC raised its position in shares of Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Crescent Sterling Ltd. increased its position in Verizon Communications by 0.8% during the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock valued at $1,402,000 after buying an additional 235 shares in the last quarter. Providence Capital Advisors LLC increased its position in Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after buying an additional 240 shares in the last quarter. Bernard Wealth Management Corp. increased its position in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.3%

Shares of VZ stock opened at $43.76 on Wednesday. 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’s 50-day moving average price is $43.25 and its 200-day moving average price is $43.39. The stock has a market capitalization of $184.51 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 3.38 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’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. Equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VZ. Wells Fargo & Company raised their price objective 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. Bank of America lifted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group started coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.65.

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).