Capital City Trust Co. FL Purchases 688 Shares of Verizon Communications Inc. $VZ

Capital City Trust Co. FL boosted its position in Verizon Communications Inc. (NYSE:VZ) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,098 shares of the cell phone carrier’s stock after acquiring an additional 688 shares during the period. Capital City Trust Co. FL’s holdings in Verizon Communications were worth $350,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VZ. Brighton Jones LLC boosted its holdings in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the last quarter. Naples Global Advisors LLC boosted its holdings in Verizon Communications by 12.5% in the first quarter. Naples Global Advisors LLC now owns 9,206 shares of the cell phone carrier’s stock valued at $418,000 after acquiring an additional 1,024 shares during the last quarter. Vest Financial LLC lifted its stake in Verizon Communications by 61.0% in the first quarter. Vest Financial LLC now owns 112,592 shares of the cell phone carrier’s stock valued at $5,107,000 after buying an additional 42,645 shares during the period. Foster Group Inc. acquired a new position in Verizon Communications in the first quarter valued at about $254,000. Finally, Procyon Advisors LLC lifted its stake in Verizon Communications by 55.6% in the first quarter. Procyon Advisors LLC now owns 52,564 shares of the cell phone carrier’s stock valued at $2,273,000 after buying an additional 18,779 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of several analyst reports. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a research note on Saturday, September 27th. Wells Fargo & Company increased their target price 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. 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, Royal Bank Of Canada increased their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Stock Up 0.6%

Shares of Verizon Communications stock opened at $43.68 on Friday. The business’s 50 day simple moving average is $43.65 and its 200 day simple moving average is $43.35. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The firm has a market cap of $184.17 billion, a PE ratio of 10.18, a P/E/G ratio of 3.37 and a beta of 0.37. 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 (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (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 business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the firm 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, 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is 63.17%.

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).