Verizon Communications Inc. $VZ Shares Purchased by Edmp Inc.

Edmp Inc. boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,131 shares of the cell phone carrier’s stock after acquiring an additional 1,658 shares during the period. Verizon Communications accounts for about 1.7% of Edmp Inc.’s investment portfolio, making the stock its 20th largest position. Edmp Inc.’s holdings in Verizon Communications were worth $2,039,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Sargent Investment Group LLC boosted its stake in shares of Verizon Communications by 3.3% during the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after purchasing an additional 230 shares during the last quarter. Providence Capital Advisors LLC boosted its stake in shares of Verizon Communications by 0.3% during the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after purchasing an additional 240 shares during the last quarter. Wright Investors Service Inc. boosted its stake in shares of Verizon Communications by 1.2% during the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC boosted its stake in shares of Verizon Communications by 71.8% during 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 during the last quarter. Finally, Platform Technology Partners boosted its stake in shares of Verizon Communications by 0.8% during the 1st quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock worth $1,429,000 after purchasing an additional 246 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Down 0.3%

NYSE VZ opened at $39.75 on Tuesday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company’s 50 day moving average price is $43.41 and its 200 day moving average price is $43.21. 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 has a market capitalization of $167.58 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 3.00 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results 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 analyst estimates of $33.47 billion. During the same quarter last year, the firm posted $1.15 earnings per share. Verizon Communications’s revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.9%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is 64.34%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VZ shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a research note on Wednesday, October 8th. Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Bank of America increased 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. Wells Fargo & Company increased their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Arete Research upgraded shares of 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 issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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).