J2 Capital Management Inc Increases Stake in Verizon Communications Inc. $VZ

J2 Capital Management Inc increased its stake in Verizon Communications Inc. (NYSE:VZ) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,371 shares of the cell phone carrier’s stock after buying an additional 1,561 shares during the period. Verizon Communications accounts for 0.6% of J2 Capital Management Inc’s portfolio, making the stock its 28th largest position. J2 Capital Management Inc’s holdings in Verizon Communications were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% during the 1st 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 in the last quarter. Bulwark Capital Corp purchased a new position in Verizon Communications during the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC boosted its stake in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the first quarter worth about $26,000. Finally, 1 North Wealth Services LLC bought a new position in shares of Verizon Communications during the first quarter valued at approximately $29,000. 62.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VZ shares. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased 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. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. 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 analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Price Performance

NYSE VZ opened at $43.84 on Thursday. The company has a 50-day moving average price of $43.63 and a 200-day moving average price of $43.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $184.82 billion, a P/E ratio of 10.22, a PEG ratio of 3.39 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last announced its earnings results 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 return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the firm earned $1.15 EPS. Verizon Communications’s revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current 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 is an increase 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 dividend on an annualized basis and a yield of 6.3%. Verizon Communications’s payout ratio is 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).