Verizon Communications Inc. $VZ Shares Bought by Angeles Wealth Management LLC

Angeles Wealth Management LLC raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 32.4% during the second quarter, HoldingsChannel reports. The firm owned 9,908 shares of the cell phone carrier’s stock after buying an additional 2,422 shares during the period. Angeles Wealth Management LLC’s holdings in Verizon Communications were worth $429,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock valued at $16,700,279,000 after purchasing an additional 4,347,416 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verizon Communications by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock valued at $4,983,225,000 after acquiring an additional 1,172,175 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Verizon Communications by 1.0% in the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock valued at $2,062,750,000 after acquiring an additional 431,789 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Verizon Communications by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.5%

VZ stock opened at $40.56 on Friday. The company has a market cap of $170.99 billion, a P/E ratio of 9.45, a P/E/G ratio of 3.04 and a beta of 0.37. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company’s 50-day moving average price is $43.23 and its 200 day moving average price is $43.10. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

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 analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share 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 issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. 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. Verizon Communications’s payout ratio is currently 64.34%.

Wall Street Analysts Forecast Growth

VZ has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.63.

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).