Verizon Communications Inc. $VZ Shares Acquired by PBMares Wealth Management LLC

PBMares Wealth Management LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,304 shares of the cell phone carrier’s stock after purchasing an additional 558 shares during the period. PBMares Wealth Management LLC’s holdings in Verizon Communications were worth $576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VZ. Brighton Jones LLC lifted its stake in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares in the last quarter. Fiduciary Alliance LLC raised its holdings in shares of Verizon Communications by 2.9% during the 1st quarter. Fiduciary Alliance LLC now owns 26,318 shares of the cell phone carrier’s stock valued at $1,194,000 after buying an additional 735 shares during the period. Gradient Investments LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $201,000. Merit Financial Group LLC raised its holdings in shares of Verizon Communications by 20.6% during the 1st quarter. Merit Financial Group LLC now owns 127,356 shares of the cell phone carrier’s stock valued at $5,777,000 after buying an additional 21,727 shares during the period. Finally, HBW Advisory Services LLC raised its holdings in shares of Verizon Communications by 7.5% during the 1st quarter. HBW Advisory Services LLC now owns 90,012 shares of the cell phone carrier’s stock valued at $4,083,000 after buying an additional 6,298 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Price Performance

VZ stock opened at $43.95 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The stock’s 50 day moving average is $43.61 and its two-hundred day moving average is $43.36. The company has a market capitalization of $185.31 billion, a PE ratio of 10.24, a P/E/G ratio of 3.34 and a beta of 0.36.

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. Analysts predict 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%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted 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. Three research 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 a consensus rating of “Moderate Buy” and a consensus price target 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).