CFM Wealth Partners LLC Sells 1,119 Shares of Verizon Communications Inc. $VZ

CFM Wealth Partners LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,737 shares of the cell phone carrier’s stock after selling 1,119 shares during the period. CFM Wealth Partners LLC’s holdings in Verizon Communications were worth $681,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% in the 1st 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 in the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the 2nd quarter worth about $25,000. Cherry Tree Wealth Management LLC lifted its stake in 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 valued at $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. bought a new position in Verizon Communications during the 1st quarter valued at about $26,000. Finally, 1 North Wealth Services LLC bought a new position in Verizon Communications during the 1st quarter valued at about $29,000. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on VZ shares. Wells Fargo & Company upped their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price on the stock. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. upped their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Bank of America upped their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.63.

Verizon Communications Price Performance

NYSE VZ opened at $41.49 on Tuesday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The firm has a market capitalization of $174.94 billion, a P/E ratio of 9.67, a PEG 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. The company has a 50-day moving average price of $43.63 and a 200-day moving average price of $43.33.

Verizon Communications (NYSE:VZ) last released 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 during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The business’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. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 64.34%.

About Verizon Communications

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).