Kennedy Investment Group Has $1.28 Million Stake in Verizon Communications Inc. $VZ

Kennedy Investment Group decreased its position in Verizon Communications Inc. (NYSE:VZ) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,507 shares of the cell phone carrier’s stock after selling 952 shares during the quarter. Kennedy Investment Group’s holdings in Verizon Communications were worth $1,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock valued at $16,700,279,000 after acquiring an additional 4,347,416 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Verizon Communications by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock valued at $4,983,225,000 after acquiring an additional 1,172,175 shares during the last quarter. GQG Partners LLC increased its position in shares of Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares during the last quarter. Northern Trust Corp increased its position in shares of Verizon Communications by 1.0% in the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock valued at $2,062,750,000 after acquiring an additional 431,789 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Verizon Communications by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VZ shares. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Bank of America lifted their target price on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, 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. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.53.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $43.21 on Thursday. The business’s 50 day moving average price is $43.47 and its two-hundred day moving average price is $43.38. The company has a market cap of $182.17 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

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

Verizon Communications Increases Dividend

The company also recently disclosed 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 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 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).