Mainsail Financial Group LLC Has $998,000 Holdings in Verizon Communications Inc. $VZ

Mainsail Financial Group LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,184 shares of the cell phone carrier’s stock after buying an additional 324 shares during the quarter. Mainsail Financial Group LLC’s holdings in Verizon Communications were worth $998,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. boosted its holdings 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. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the first quarter worth $26,000. Cherry Tree Wealth Management LLC lifted its position in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Bulwark Capital Corp bought a new stake in shares of Verizon Communications in the second quarter worth $25,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the first quarter worth $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of research reports. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. boosted 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. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley upped their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. 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 Performance

NYSE VZ opened at $43.23 on Tuesday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The firm has a market capitalization of $182.27 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. The firm’s fifty day moving average price is $43.59 and its two-hundred day moving average price is $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 (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current 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 given a $0.69 dividend. 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. This represents a $2.76 annualized dividend and a dividend yield of 6.4%. Verizon Communications’s payout ratio is currently 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).