Verizon Communications Inc. $VZ Shares Bought by Gries Financial LLC

Gries Financial LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,624 shares of the cell phone carrier’s stock after acquiring an additional 868 shares during the quarter. Gries Financial LLC’s holdings in Verizon Communications were worth $2,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. increased its position in shares of 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 buying an additional 243 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC increased its position in shares of 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 in the last quarter. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the second quarter worth approximately $25,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter worth approximately $29,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Bank of America boosted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target for the company. Wells Fargo & Company boosted their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.65.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.21 on Tuesday. The company’s 50-day moving average is $43.39 and its two-hundred day moving average is $43.38. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a market capitalization of $182.17 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 3.35 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The business’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. Analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm 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. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.4%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) 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).