Verizon Communications Inc. $VZ Shares Purchased by ST Germain D J Co. Inc.

ST Germain D J Co. Inc. raised its stake in Verizon Communications Inc. (NYSE:VZ) by 4.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 343,621 shares of the cell phone carrier’s stock after buying an additional 14,847 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Verizon Communications were worth $14,868,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC boosted its holdings in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the first quarter worth approximately $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.4%

Shares of Verizon Communications stock opened at $43.35 on Friday. The stock has a 50-day moving average price of $43.51 and a 200 day moving average price of $43.35. The company has a market cap 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 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.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications’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 business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Analyst Ratings Changes

A number of research firms have recently commented on VZ. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company boosted their target price 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 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, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

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).