Aaron Wealth Advisors LLC Buys 1,874 Shares of Verizon Communications Inc. $VZ

Aaron Wealth Advisors LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 8.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,147 shares of the cell phone carrier’s stock after purchasing an additional 1,874 shares during the period. Aaron Wealth Advisors LLC’s holdings in Verizon Communications were worth $1,088,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Verizon Communications during the 2nd quarter valued at $1,892,000. Breakwater Capital Group grew its holdings in shares of Verizon Communications by 10.1% during the 2nd quarter. Breakwater Capital Group now owns 16,330 shares of the cell phone carrier’s stock valued at $707,000 after purchasing an additional 1,493 shares during the last quarter. Balefire LLC grew its holdings in shares of Verizon Communications by 65.9% during the 2nd quarter. Balefire LLC now owns 24,714 shares of the cell phone carrier’s stock valued at $1,069,000 after purchasing an additional 9,814 shares during the last quarter. Berkshire Bank grew its holdings in shares of Verizon Communications by 9.9% during the 2nd quarter. Berkshire Bank now owns 75,540 shares of the cell phone carrier’s stock valued at $3,269,000 after purchasing an additional 6,792 shares during the last quarter. Finally, LifePlan Financial LLC grew its holdings in shares of Verizon Communications by 2.7% during the 2nd quarter. LifePlan Financial LLC now owns 25,412 shares of the cell phone carrier’s stock valued at $1,100,000 after purchasing an additional 668 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ opened at $43.76 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market cap of $184.51 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 3.38 and a beta of 0.36. The company’s 50 day moving average is $43.25 and its 200 day moving average is $43.39. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last 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 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 6.3%. 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 presently 63.17%.

Analysts Set New Price Targets

Several research firms recently commented on VZ. 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 report on Tuesday, July 22nd. Wall Street Zen raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus 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).