Orca Investment Management LLC Has $1.91 Million Position in Verizon Communications Inc. $VZ

Orca Investment Management LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,058 shares of the cell phone carrier’s stock after selling 1,123 shares during the period. Verizon Communications makes up about 1.7% of Orca Investment Management LLC’s investment portfolio, making the stock its 19th biggest position. Orca Investment Management LLC’s holdings in Verizon Communications were worth $1,906,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of VZ. Bernard Wealth Management Corp. raised its holdings 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 period. Bulwark Capital Corp acquired a new stake in Verizon Communications in the second quarter worth $25,000. Cherry Tree Wealth Management LLC raised its holdings 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. acquired a new stake in Verizon Communications in the first quarter worth $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the first quarter worth $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 2.4%

Shares of NYSE:VZ opened at $39.86 on Friday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The company’s fifty day simple moving average is $43.48 and its 200 day simple moving average is $43.25. The firm has a market cap of $168.05 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the business posted $1.15 earnings per share. The firm’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. As a group, research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared 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. This represents a $2.76 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday. Scotiabank increased their target price on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley raised their price objective 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. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

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).