Verizon Communications Inc. $VZ Shares Bought by Financial Partners Group LLC

Financial Partners Group LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 29.0% during the 2nd quarter, Holdings Channel reports. The firm owned 41,059 shares of the cell phone carrier’s stock after acquiring an additional 9,242 shares during the quarter. Financial Partners Group LLC’s holdings in Verizon Communications were worth $1,777,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in Verizon Communications by 168.1% in the second quarter. Avior Wealth Management LLC now owns 40,882 shares of the cell phone carrier’s stock valued at $1,782,000 after purchasing an additional 25,634 shares during the last quarter. Neumann Capital Management LLC grew its holdings in Verizon Communications by 1.3% in the second quarter. Neumann Capital Management LLC now owns 42,359 shares of the cell phone carrier’s stock valued at $1,833,000 after purchasing an additional 550 shares during the last quarter. Uncommon Cents Investing LLC grew its holdings in Verizon Communications by 2.0% in the second quarter. Uncommon Cents Investing LLC now owns 43,875 shares of the cell phone carrier’s stock valued at $1,898,000 after purchasing an additional 878 shares during the last quarter. BayBridge Capital Group LLC grew its holdings in Verizon Communications by 2.2% in the second quarter. BayBridge Capital Group LLC now owns 33,836 shares of the cell phone carrier’s stock valued at $1,464,000 after purchasing an additional 716 shares during the last quarter. Finally, Virginia Wealth Management Group Inc. grew its holdings in Verizon Communications by 2.0% in the second quarter. Virginia Wealth Management Group Inc. now owns 68,336 shares of the cell phone carrier’s stock valued at $2,957,000 after purchasing an additional 1,328 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.6%

Shares of NYSE:VZ opened at $43.60 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. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The stock’s fifty day simple moving average is $43.57 and its 200-day simple moving average is $43.36. The company has a market capitalization of $183.83 billion, a P/E ratio of 10.16, a P/E/G ratio of 3.37 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last issued 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 business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The business’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. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. 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 positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is 63.17%.

Analyst Ratings Changes

Several analysts have weighed in on VZ shares. The Goldman Sachs Group started coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley upped their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, Bank of America upped their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications 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).