Verizon Communications Inc. $VZ Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV reduced its position in Verizon Communications Inc. (NYSE:VZ) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,874 shares of the cell phone carrier’s stock after selling 1,621 shares during the quarter. Verizon Communications comprises approximately 1.4% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 19th biggest position. Advisors Management Group Inc. ADV’s holdings in Verizon Communications were worth $7,567,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. lifted its holdings in shares of 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 purchasing an additional 243 shares during the period. Bulwark Capital Corp purchased a new position in shares of Verizon Communications in the second quarter valued at $25,000. Cherry Tree Wealth Management LLC increased its position 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 buying an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the first quarter valued at $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in Verizon Communications during the 1st quarter worth about $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $43.60 on Friday. The company has a market cap of $183.83 billion, a P/E ratio of 10.16, a PEG ratio of 3.35 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The business’s 50-day simple moving average is $43.57 and its 200 day simple moving average is $43.35.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) 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 company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications’s revenue for the quarter 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. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company 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 $0.69 dividend. 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 dividend on an annualized basis and a dividend yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price objective 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. Finally, Morgan Stanley lifted their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. 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. Based on data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $47.53.

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).