HTG Investment Advisors Inc. Sells 435 Shares of Verizon Communications Inc. $VZ

HTG Investment Advisors Inc. trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,976 shares of the cell phone carrier’s stock after selling 435 shares during the period. HTG Investment Advisors Inc.’s holdings in Verizon Communications were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of VZ. Bernard Wealth Management Corp. increased its stake in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC boosted its holdings in shares of 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 shares of Verizon Communications during the first quarter worth $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the first quarter worth $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, Scotiabank raised their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a research note on Monday. Three investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Down 5.0%

Verizon Communications stock opened at $41.49 on Tuesday. 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’s 50-day moving average is $43.63 and its 200-day moving average is $43.33. The firm has a market capitalization of $174.94 billion, a PE ratio of 9.67, a P/E/G ratio of 3.37 and a beta of 0.37. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35.

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 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%.Verizon Communications’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a boost 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 6.7%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 64.34%.

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).