Sava Infond d.o.o. Invests $233,000 in Verizon Communications Inc. $VZ

Sava Infond d.o.o. purchased a new position in Verizon Communications Inc. (NYSE:VZ) during the 2nd quarter, HoldingsChannel reports. The fund purchased 5,380 shares of the cell phone carrier’s stock, valued at approximately $233,000.

Several other institutional investors have also recently made changes to their positions in the company. LGT Fund Management Co Ltd. increased its holdings in shares of Verizon Communications by 20.3% in the second quarter. LGT Fund Management Co Ltd. now owns 10,057 shares of the cell phone carrier’s stock worth $435,000 after purchasing an additional 1,698 shares during the period. Quent Capital LLC increased its holdings in shares of Verizon Communications by 3.9% in the second quarter. Quent Capital LLC now owns 8,497 shares of the cell phone carrier’s stock worth $368,000 after purchasing an additional 320 shares during the period. Future Financial Wealth Managment LLC increased its holdings in shares of Verizon Communications by 1.4% in the second quarter. Future Financial Wealth Managment LLC now owns 23,018 shares of the cell phone carrier’s stock worth $996,000 after purchasing an additional 321 shares during the period. 111 Capital bought a new position in shares of Verizon Communications in the second quarter worth $815,000. Finally, Hennessy Advisors Inc. increased its stake in Verizon Communications by 98.8% in the second quarter. Hennessy Advisors Inc. now owns 471,835 shares of the cell phone carrier’s stock valued at $20,416,000 after acquiring an additional 234,485 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE VZ opened at $43.68 on Friday. The company has a 50-day simple moving average of $43.65 and a two-hundred day simple moving average of $43.36. 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 12-month low of $37.58 and a 12-month high of $47.35. The firm has a market cap of $184.17 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.35 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts forecast 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 given a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Analysts Set New Price Targets

A number of research analysts recently commented on VZ shares. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a research note on Saturday, September 27th. The Goldman Sachs Group started coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Morgan Stanley increased their target price on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have given 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 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).