Verizon Communications Inc. $VZ Shares Bought by Bontempo Ohly Capital Mgmt LLC

Bontempo Ohly Capital Mgmt LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 6.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 104,913 shares of the cell phone carrier’s stock after acquiring an additional 6,442 shares during the quarter. Verizon Communications accounts for 2.3% of Bontempo Ohly Capital Mgmt LLC’s holdings, making the stock its 9th largest position. Bontempo Ohly Capital Mgmt LLC’s holdings in Verizon Communications were worth $4,759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. increased its stake in shares of Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its holdings 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 buying an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth approximately $26,000. 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter valued at $29,000. Finally, Accent Capital Management LLC acquired a new stake in Verizon Communications in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 1.4%

VZ stock opened at $44.12 on Friday. 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 firm has a market capitalization of $186.02 billion, a PE ratio of 10.28, a PEG ratio of 3.35 and a beta of 0.36. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock has a 50-day simple moving average of $43.21 and a two-hundred day simple moving average of $43.38.

Verizon Communications (NYSE:VZ) last posted its 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. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. 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. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VZ. Wells Fargo & Company lifted 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. Wall Street Zen upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Royal Bank Of Canada boosted their price objective on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Bank of America boosted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.65.

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).