Centennial Wealth Advisory LLC Purchases 1,128 Shares of Verizon Communications Inc. $VZ

Centennial Wealth Advisory LLC increased its stake in Verizon Communications Inc. (NYSE:VZ) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,052 shares of the cell phone carrier’s stock after purchasing an additional 1,128 shares during the period. Centennial Wealth Advisory LLC’s holdings in Verizon Communications were worth $999,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bernard Wealth Management Corp. increased its position in shares of Verizon Communications by 81.0% in 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 bought a new position in shares of Verizon Communications in the second quarter worth $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 worth $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. bought a new position in shares of Verizon Communications in the first quarter worth $26,000. Finally, 1 North Wealth Services LLC bought a new position in shares of Verizon Communications in the first quarter worth $29,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ stock opened at $43.23 on Tuesday. The business’s 50-day moving average price is $43.59 and its 200-day moving average price is $43.35. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The firm has a market capitalization of $182.27 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 3.37 and a beta of 0.36. 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 announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current 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 paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.4%. Verizon Communications’s payout ratio is 63.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VZ. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Arete Research raised Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday. Three 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.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus 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).