Country Club Bank Has $634,000 Stock Position in Verizon Communications Inc. $VZ

Country Club Bank lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 15.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,994 shares of the cell phone carrier’s stock after selling 2,804 shares during the quarter. Country Club Bank’s holdings in Verizon Communications were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock worth $16,700,279,000 after acquiring an additional 4,347,416 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock worth $4,983,225,000 after acquiring an additional 1,172,175 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock worth $2,261,648,000 after acquiring an additional 37,516,167 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock worth $2,062,750,000 after acquiring an additional 431,789 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Verizon Communications by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock worth $1,904,840,000 after acquiring an additional 3,100,342 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VZ shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a research report on Saturday, September 27th. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Bank of America upped their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Finally, Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Stock Down 0.0%

Verizon Communications stock opened at $41.44 on Wednesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The firm has a 50 day moving average price of $43.60 and a 200-day moving average price of $43.32. The company has a market capitalization of $174.70 billion, a P/E ratio of 9.66, a P/E/G ratio of 3.20 and a beta of 0.37. 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 (NYSE:VZ) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the firm earned $1.15 EPS. The company’s revenue 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. As a group, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 63.17%.

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).