Verizon Communications Inc. $VZ Position Increased by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,613 shares of the cell phone carrier’s stock after purchasing an additional 5,670 shares during the period. OLD National Bancorp IN’s holdings in Verizon Communications were worth $14,133,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Olistico Wealth LLC increased its stake in Verizon Communications by 15.4% during the second quarter. Olistico Wealth LLC now owns 5,615 shares of the cell phone carrier’s stock valued at $243,000 after purchasing an additional 750 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in shares of Verizon Communications by 2.2% during the second quarter. Carolina Wealth Advisors LLC now owns 143,987 shares of the cell phone carrier’s stock worth $6,230,000 after acquiring an additional 3,140 shares during the last quarter. MBL Wealth LLC grew its position in shares of Verizon Communications by 7.5% during the second quarter. MBL Wealth LLC now owns 11,254 shares of the cell phone carrier’s stock worth $487,000 after acquiring an additional 789 shares during the last quarter. Capital City Trust Co. FL grew its position in shares of Verizon Communications by 9.3% during the second quarter. Capital City Trust Co. FL now owns 8,098 shares of the cell phone carrier’s stock worth $350,000 after acquiring an additional 688 shares during the last quarter. Finally, Tandem Investment Partners LLC grew its position in shares of Verizon Communications by 11.8% during the second quarter. Tandem Investment Partners LLC now owns 11,235 shares of the cell phone carrier’s stock worth $486,000 after acquiring an additional 1,185 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ opened at $43.68 on Friday. The firm has a 50-day moving average price of $43.65 and a 200 day moving average price of $43.35. The firm has a market capitalization of $184.17 billion, a PE ratio of 10.18, a P/E/G ratio of 3.37 and a beta of 0.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating 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 company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the company earned $1.15 EPS. Verizon Communications’s 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. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal 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 paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is currently 63.17%.

Analyst Ratings Changes

Several research firms have recently commented on VZ. Morgan Stanley upped 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 report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Bank of America increased their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three investment 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.53.

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).