Clear Creek Financial Management LLC Buys 5,906 Shares of Verizon Communications Inc. $VZ

Clear Creek Financial Management LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 13.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 50,230 shares of the cell phone carrier’s stock after acquiring an additional 5,906 shares during the period. Clear Creek Financial Management LLC’s holdings in Verizon Communications were worth $2,173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of VZ. Bernard Wealth Management Corp. lifted its position in shares of 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 in the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the first quarter worth $26,000. Cherry Tree Wealth Management LLC lifted its position in shares of 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 in the last quarter. Bulwark Capital Corp bought a new stake in shares of Verizon Communications in the second quarter worth $25,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the first quarter worth $29,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VZ. Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company boosted 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. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday. Three investment 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Price Performance

Shares of VZ opened at $41.35 on Thursday. The company has a market cap of $174.35 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 3.20 and a beta of 0.37. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company’s fifty day simple moving average is $43.58 and its 200 day simple moving average is $43.30. 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 released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 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 firm 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 company earned $1.15 earnings per share. The company’s quarterly 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, research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed 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 dividend yield of 6.7%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 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).