KFA Private Wealth Group LLC Has $303,000 Stock Position in Verizon Communications Inc. $VZ

KFA Private Wealth Group LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 28.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,004 shares of the cell phone carrier’s stock after acquiring an additional 1,568 shares during the quarter. KFA Private Wealth Group LLC’s holdings in Verizon Communications were worth $303,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Bernard Wealth Management Corp. increased its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares in the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications in the 1st quarter worth about $26,000. Cherry Tree Wealth Management LLC increased its holdings in Verizon Communications by 71.8% in the 1st 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 acquired a new position in shares of Verizon Communications in the second quarter valued at approximately $25,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VZ shares. JPMorgan Chase & Co. upped their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their price target 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. Scotiabank increased their price objective on Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday, October 6th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Finally, Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.63.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $39.86 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The firm has a fifty day simple moving average of $43.48 and a 200 day simple moving average of $43.26. The company has a market capitalization of $168.05 billion, a PE ratio of 9.29, a P/E/G ratio of 3.08 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 issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm 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 dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend 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).