Mascoma Wealth Management LLC Decreases Position in Verizon Communications Inc. $VZ

Mascoma Wealth Management LLC lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,301 shares of the cell phone carrier’s stock after selling 534 shares during the period. Mascoma Wealth Management LLC’s holdings in Verizon Communications were worth $619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sargent Investment Group LLC boosted its position in Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock valued at $323,000 after buying an additional 230 shares during the period. Crescent Sterling Ltd. boosted its position in Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock valued at $1,402,000 after buying an additional 235 shares during the period. Providence Capital Advisors LLC boosted its position in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after buying an additional 240 shares during the period. Bernard Wealth Management Corp. boosted its position in Verizon Communications by 81.0% in 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 during the period. Finally, Wright Investors Service Inc. boosted its position in Verizon Communications by 1.2% in the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after buying an additional 243 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of VZ opened at $43.68 on Friday. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The stock has a market cap of $184.17 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a fifty day moving average price of $43.65 and a 200 day moving average price of $43.35.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the previous year, the company earned $1.15 earnings per share. Verizon Communications’s quarterly revenue 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. As a group, sell-side 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. Stockholders of record on Friday, October 10th will be issued a $0.69 dividend. 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. Verizon Communications’s dividend payout ratio is currently 63.17%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VZ. Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company lifted 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. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Bank of America lifted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, 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).