JNBA Financial Advisors Has $142,000 Position in Verizon Communications Inc. $VZ

JNBA Financial Advisors reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,284 shares of the cell phone carrier’s stock after selling 343 shares during the period. JNBA Financial Advisors’ holdings in Verizon Communications were worth $142,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. KFA Private Wealth Group LLC boosted its position in shares of Verizon Communications by 28.8% in the second quarter. KFA Private Wealth Group LLC now owns 7,004 shares of the cell phone carrier’s stock valued at $303,000 after acquiring an additional 1,568 shares during the period. Aberdeen Group plc raised its stake in Verizon Communications by 5.2% in the second quarter. Aberdeen Group plc now owns 4,966,866 shares of the cell phone carrier’s stock valued at $211,514,000 after purchasing an additional 244,912 shares in the last quarter. Strong Tower Advisory Services raised its stake in Verizon Communications by 5.6% in the second quarter. Strong Tower Advisory Services now owns 54,122 shares of the cell phone carrier’s stock valued at $2,342,000 after purchasing an additional 2,868 shares in the last quarter. PDS Planning Inc raised its stake in Verizon Communications by 18.2% in the second quarter. PDS Planning Inc now owns 22,292 shares of the cell phone carrier’s stock valued at $965,000 after purchasing an additional 3,435 shares in the last quarter. Finally, JB Capital LLC raised its stake in Verizon Communications by 8.8% in the second quarter. JB Capital LLC now owns 22,619 shares of the cell phone carrier’s stock valued at $979,000 after purchasing an additional 1,822 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada boosted their target price 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. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Morgan Stanley boosted their target price on 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 boosted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Arete Research raised Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Performance

Verizon Communications stock opened at $39.86 on Friday. The business has a 50 day moving average of $43.48 and a 200-day moving average of $43.26. 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 company has a market capitalization of $168.05 billion, a P/E ratio of 9.29, a P/E/G ratio of 3.08 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm posted $1.15 earnings per share. The firm’s revenue 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, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is currently 63.17%.

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).