Triad Wealth Partners LLC Acquires 1,545 Shares of Verizon Communications Inc. $VZ

Triad Wealth Partners LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 12.8% in the second quarter, Holdings Channel.com reports. The fund owned 13,618 shares of the cell phone carrier’s stock after purchasing an additional 1,545 shares during the quarter. Triad Wealth Partners LLC’s holdings in Verizon Communications were worth $589,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Bernard Wealth Management Corp. boosted its position in 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 in the last quarter. Bulwark Capital Corp bought a new position in shares of Verizon Communications in the second quarter worth about $25,000. Cherry Tree Wealth Management LLC grew its position in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth approximately $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VZ. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Bank of America increased their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. upped their price target 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. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Price Performance

Shares of VZ opened at $43.43 on Friday. The firm has a market capitalization of $183.12 billion, a PE ratio of 10.12, a PEG ratio of 3.38 and a beta of 0.37. The company’s 50-day moving average is $43.63 and its 200-day moving average is $43.36. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

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. Equities analysts forecast 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%.

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).