Oxinas Partners Wealth Management LLC Sells 310 Shares of Verizon Communications Inc. $VZ

Oxinas Partners Wealth Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,026 shares of the cell phone carrier’s stock after selling 310 shares during the period. Oxinas Partners Wealth Management LLC’s holdings in Verizon Communications were worth $261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in VZ. Bernard Wealth Management Corp. increased its position in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 243 shares during the period. Bulwark Capital Corp bought a new stake in Verizon Communications in the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC grew its position in shares of 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 worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America increased 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. Royal Bank Of Canada increased their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target for the company. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.53.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.21 on Thursday. The stock’s 50-day moving average is $43.47 and its 200-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 current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a market cap of $182.17 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS 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 company earned $1.15 EPS. The firm’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 anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

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