Consolidated Portfolio Review Corp Raises Stock Holdings in Verizon Communications Inc. $VZ

Consolidated Portfolio Review Corp boosted its position in Verizon Communications Inc. (NYSE:VZ) by 30.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,374 shares of the cell phone carrier’s stock after purchasing an additional 33,799 shares during the quarter. Verizon Communications makes up 0.9% of Consolidated Portfolio Review Corp’s portfolio, making the stock its 22nd biggest position. Consolidated Portfolio Review Corp’s holdings in Verizon Communications were worth $6,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VZ. Kestra Investment Management LLC increased its stake in shares of Verizon Communications by 121.8% in the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock worth $8,007,000 after acquiring an additional 96,931 shares in the last quarter. Element Capital Management LLC purchased a new stake in Verizon Communications in the first quarter worth about $2,799,000. Autumn Glory Partners LLC increased its stake in shares of Verizon Communications by 25.8% during the first quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier’s stock valued at $2,825,000 after purchasing an additional 12,760 shares in the last quarter. Davidson Trust Co. lifted its holdings in shares of Verizon Communications by 95.5% during the first quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock valued at $1,215,000 after purchasing an additional 13,082 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its position in shares of Verizon Communications by 68.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock worth $313,000 after purchasing an additional 2,802 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ opened at $43.95 on Wednesday. The firm has a fifty day simple moving average of $43.61 and a two-hundred day simple moving average of $43.36. The firm has a market cap of $185.31 billion, a PE ratio of 10.24, a P/E/G ratio of 3.34 and a beta of 0.36. 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 1-year low of $37.58 and a 1-year high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 63.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VZ. Wells Fargo & Company raised 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. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. 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 note on Tuesday, July 22nd. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Finally, Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $47.53.

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).