50,789 Shares in Verizon Communications Inc. $VZ Bought by IMS Capital Management

IMS Capital Management acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, HoldingsChannel reports. The fund acquired 50,789 shares of the cell phone carrier’s stock, valued at approximately $2,198,000. Verizon Communications comprises about 1.0% of IMS Capital Management’s holdings, making the stock its 26th biggest holding.

Several other large investors have also added to or reduced their stakes in the stock. Sargent Investment Group LLC boosted its position in Verizon Communications by 3.3% during the 1st 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 in the last quarter. Crescent Sterling Ltd. increased its holdings in shares of Verizon Communications by 0.8% during 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 in the last quarter. Providence Capital Advisors LLC raised its position in shares of Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after purchasing an additional 240 shares during the last quarter. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% in the 1st 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 in the last quarter. Finally, Wright Investors Service Inc. grew its position in Verizon Communications by 1.2% during the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $43.35 on Wednesday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market capitalization of $182.76 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 3.33 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. The firm has a 50 day moving average of $43.43 and a 200 day moving average of $43.38.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping 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 business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period last year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated 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. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.63.

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).