Yousif Capital Management LLC Sells 4,716 Shares of Verizon Communications Inc. $VZ

Yousif Capital Management LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 646,969 shares of the cell phone carrier’s stock after selling 4,716 shares during the period. Yousif Capital Management LLC’s holdings in Verizon Communications were worth $27,994,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. bought a new position in shares of Verizon Communications in the first quarter worth approximately $26,000. Cherry Tree Wealth Management LLC boosted its stake 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 buying an additional 244 shares in the last quarter. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications during the second quarter valued at approximately $25,000. 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at approximately $30,000. 62.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VZ has been the subject of a number of analyst reports. Scotiabank increased their price objective on Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada raised their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $39.86 on Monday. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The business has a fifty day moving average price of $43.48 and a 200-day moving average price of $43.24. The company has a market capitalization of $168.05 billion, a PE ratio of 9.29, a PEG ratio of 3.00 and a beta of 0.37.

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, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.9%. Verizon Communications’s dividend payout ratio is 64.34%.

Verizon Communications Company 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).