Oliver Luxxe Assets LLC Has $235,000 Position in Verizon Communications Inc. $VZ

Oliver Luxxe Assets LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,434 shares of the cell phone carrier’s stock after purchasing an additional 634 shares during the period. Oliver Luxxe Assets LLC’s holdings in Verizon Communications were worth $235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC increased its stake in shares of Verizon Communications by 121.8% in the first quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock valued at $8,007,000 after buying an additional 96,931 shares during the period. BridgePort Financial Solutions LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $381,000. Element Capital Management LLC acquired a new stake in Verizon Communications during the first quarter worth approximately $2,799,000. Meyer Handelman Co. grew its stake in Verizon Communications by 7.4% during the first quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier’s stock worth $50,393,000 after purchasing an additional 76,083 shares during the period. Finally, Rempart Asset Management Inc. grew its stake in Verizon Communications by 52.8% during the first quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier’s stock worth $14,079,000 after purchasing an additional 107,200 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VZ. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Morgan Stanley raised their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Royal Bank Of Canada raised their target price 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. Finally, Arete Research raised Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Trading Down 0.6%

Shares of Verizon Communications stock opened at $43.21 on Tuesday. 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 Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The stock has a 50 day moving average price of $43.39 and a two-hundred day moving average price of $43.38. The stock has a market capitalization of $182.17 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The company’s revenue for the quarter 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 analysts anticipate 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 issued a $0.69 dividend. This is a boost 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 6.4%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is 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).