MKT Advisors LLC Decreases Stake in Verizon Communications Inc. $VZ

MKT Advisors LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 3.8% during the second quarter, HoldingsChannel reports. The firm owned 10,799 shares of the cell phone carrier’s stock after selling 432 shares during the period. MKT Advisors LLC’s holdings in Verizon Communications were worth $472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. increased its stake in shares of 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 acquiring an additional 243 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter worth $26,000. Cherry Tree Wealth Management LLC increased its stake in shares of Verizon Communications by 71.8% in the 1st 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 last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter worth $25,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter worth $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.4%

Shares of NYSE:VZ opened at $43.35 on Friday. 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 $182.79 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 3.33 and a beta of 0.36. The firm’s 50-day moving average is $43.51 and its two-hundred day moving average is $43.35. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results 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. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict 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. Shareholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a 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 payout ratio is currently 63.17%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VZ shares. Royal Bank Of Canada raised their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company 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 company an “equal weight” rating in a report on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.53.

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).