SGL Investment Advisors Inc. Buys 2,070 Shares of Verizon Communications Inc. $VZ

SGL Investment Advisors Inc. raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 30.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,947 shares of the cell phone carrier’s stock after acquiring an additional 2,070 shares during the period. SGL Investment Advisors Inc.’s holdings in Verizon Communications were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. lifted its stake in 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 last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC increased its stake in 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. purchased a new stake in Verizon Communications in the first quarter worth $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 5.0%

VZ opened at $41.49 on Tuesday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The stock has a fifty day moving average price of $43.63 and a 200-day moving average price of $43.33. The firm has a market cap of $174.94 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 3.37 and a beta of 0.37. 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 earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $33.47 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The firm’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. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 64.34%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a research report on Saturday, September 27th. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Morgan Stanley raised their price target 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. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Company 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).