Verizon Communications Inc. $VZ Shares Bought by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,188 shares of the cell phone carrier’s stock after acquiring an additional 758 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Verizon Communications were worth $1,003,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN boosted its stake in Verizon Communications by 1.8% during the 2nd quarter. OLD National Bancorp IN now owns 326,613 shares of the cell phone carrier’s stock valued at $14,133,000 after purchasing an additional 5,670 shares in the last quarter. Olistico Wealth LLC lifted its holdings in shares of Verizon Communications by 15.4% in the second quarter. Olistico Wealth LLC now owns 5,615 shares of the cell phone carrier’s stock valued at $243,000 after buying an additional 750 shares during the period. Carolina Wealth Advisors LLC boosted its stake in Verizon Communications by 2.2% during the second quarter. Carolina Wealth Advisors LLC now owns 143,987 shares of the cell phone carrier’s stock valued at $6,230,000 after buying an additional 3,140 shares in the last quarter. MBL Wealth LLC grew its holdings in Verizon Communications by 7.5% during the second quarter. MBL Wealth LLC now owns 11,254 shares of the cell phone carrier’s stock worth $487,000 after acquiring an additional 789 shares during the period. Finally, Capital City Trust Co. FL raised its position in Verizon Communications by 9.3% in the second quarter. Capital City Trust Co. FL now owns 8,098 shares of the cell phone carrier’s stock worth $350,000 after acquiring an additional 688 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $43.68 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The business’s 50-day moving average price is $43.65 and its two-hundred day moving average price is $43.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The company has a market capitalization of $184.17 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37.

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

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. 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 a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VZ shares. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company lifted their price target 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. Bank of America increased their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” 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 given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.53.

Verizon Communications 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).