Verizon Communications Inc. $VZ Shares Sold by Brucke Financial Inc.

Brucke Financial Inc. reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,118 shares of the cell phone carrier’s stock after selling 1,136 shares during the period. Brucke Financial Inc.’s holdings in Verizon Communications were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. raised its holdings in shares of Verizon Communications by 81.0% in the 1st 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. Bulwark Capital Corp bought a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC raised its holdings in shares of 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. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the 1st quarter worth approximately $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on VZ. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Morgan Stanley boosted their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Scotiabank boosted their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a report on Monday, October 6th. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Bank of America boosted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Down 2.4%

Verizon Communications stock opened at $39.86 on Friday. The firm has a market cap 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 debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm’s 50 day moving average price is $43.48 and its two-hundred day moving average price is $43.26. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts predict that Verizon Communications Inc. will post 4.69 EPS 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 paid a $0.69 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.9%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is currently 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).