Keudell Morrison Wealth Management Has $2.22 Million Stake in Verizon Communications Inc. $VZ

Keudell Morrison Wealth Management raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,185 shares of the cell phone carrier’s stock after acquiring an additional 3,143 shares during the period. Keudell Morrison Wealth Management’s holdings in Verizon Communications were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bernard Wealth Management Corp. raised its holdings in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new stake in Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC raised its stake in 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 valued at $26,000 after buying an additional 244 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $43.68 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock’s 50 day moving average price is $43.65 and its 200-day moving average price is $43.35. The company has a market capitalization of $184.17 billion, a PE ratio of 10.18, a PEG ratio of 3.37 and a beta of 0.37. 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 (NYSE:VZ) last posted its quarterly 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. The company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. 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 announced 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 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 payout ratio is presently 63.17%.

Analysts Set New Price Targets

Several equities analysts have recently commented on VZ shares. Royal Bank Of Canada upped their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 target price for the company. Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target 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).