Five Oceans Advisors Buys 283 Shares of Verizon Communications Inc. $VZ

Five Oceans Advisors boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,629 shares of the cell phone carrier’s stock after buying an additional 283 shares during the quarter. Five Oceans Advisors’ holdings in Verizon Communications were worth $590,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. grew 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 valued at $25,000 after buying an additional 243 shares during the last quarter. Bulwark Capital Corp bought a new stake in shares of Verizon Communications during the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC boosted its holdings 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 acquiring an additional 244 shares during the period. Garde Capital Inc. bought a new stake in shares of Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications during the first quarter worth approximately $29,000. Institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VZ. Morgan Stanley boosted their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada boosted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Wells Fargo & Company boosted their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Trading Up 0.4%

Shares of NYSE:VZ opened at $43.35 on Friday. The business’s 50 day simple moving average is $43.51 and its 200 day simple moving average is $43.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The company has a market capitalization of $182.79 billion, a P/E ratio of 10.11, a P/E/G ratio of 3.33 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last released its 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 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 period in the prior year, the company 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 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business 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. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

About Verizon Communications

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).