Spirepoint Private Client LLC Decreases Stake in Verizon Communications Inc. $VZ

Spirepoint Private Client LLC lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 18.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,005 shares of the cell phone carrier’s stock after selling 2,980 shares during the period. Spirepoint Private Client LLC’s holdings in Verizon Communications were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after acquiring an additional 16,704 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $1,608,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $46,000. Versant Capital Management Inc increased its stake in Verizon Communications by 50.7% during the 1st quarter. Versant Capital Management Inc now owns 12,110 shares of the cell phone carrier’s stock worth $549,000 after buying an additional 4,073 shares during the period. Finally, Central Pacific Bank Trust Division increased its stake in Verizon Communications by 31.8% during the 1st quarter. Central Pacific Bank Trust Division now owns 14,823 shares of the cell phone carrier’s stock worth $672,000 after buying an additional 3,574 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VZ shares. Bank of America boosted their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. JPMorgan Chase & Co. upped their price objective 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. Finally, 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 report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

Verizon Communications Stock Up 0.6%

Shares of NYSE:VZ opened at $43.60 on Friday. The firm has a market cap of $183.83 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.36. The company has a fifty day simple moving average of $43.57 and a 200 day simple moving average of $43.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 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 firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The firm’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, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is presently 63.17%.

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).