San Luis Wealth Advisors LLC Sells 1,835 Shares of Verizon Communications Inc. $VZ

San Luis Wealth Advisors LLC reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,733 shares of the cell phone carrier’s stock after selling 1,835 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Verizon Communications were worth $767,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VZ. Brighton Jones LLC raised its holdings in shares of 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 purchasing an additional 16,704 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 purchasing an additional 4,073 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Verizon Communications by 31.8% during the first quarter. Central Pacific Bank Trust Division now owns 14,823 shares of the cell phone carrier’s stock valued at $672,000 after purchasing an additional 3,574 shares during the period. Legacy Private Trust Co. acquired a new position in Verizon Communications in the first quarter worth $287,000. Finally, GAMMA Investing LLC lifted its holdings in Verizon Communications by 5,103.0% in the first quarter. GAMMA Investing LLC now owns 3,113,556 shares of the cell phone carrier’s stock worth $141,231,000 after purchasing an additional 3,053,715 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. 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 report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Stock Performance

Shares of VZ opened at $43.60 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The firm has a market cap of $183.83 billion, a P/E ratio of 10.16, a PEG ratio of 3.37 and a beta of 0.36. The firm’s 50 day moving average price is $43.57 and its two-hundred day moving average price is $43.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ) last issued its earnings results 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. The company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts forecast 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. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. 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. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications’s payout ratio is presently 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).