Verizon Communications Inc. $VZ Shares Purchased by Roberts Wealth Advisors LLC

Roberts Wealth Advisors LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,626 shares of the cell phone carrier’s stock after acquiring an additional 1,631 shares during the period. Roberts Wealth Advisors LLC’s holdings in Verizon Communications were worth $2,796,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Kestra Investment Management LLC lifted its holdings in shares of Verizon Communications by 121.8% in the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock valued at $8,007,000 after buying an additional 96,931 shares during the period. Element Capital Management LLC acquired a new stake in shares of Verizon Communications during the 1st quarter worth about $2,799,000. Autumn Glory Partners LLC lifted its position in Verizon Communications by 25.8% in the first quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier’s stock valued at $2,825,000 after buying an additional 12,760 shares during the last quarter. Davidson Trust Co. increased its position in shares of Verizon Communications by 95.5% during the first quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock valued at $1,215,000 after acquiring an additional 13,082 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC lifted its holdings in shares of Verizon Communications by 68.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock worth $313,000 after acquiring an additional 2,802 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VZ shares. Morgan Stanley upped their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Bank of America boosted their price target 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. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Verizon Communications in a research report on Saturday, September 27th. Three investment 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 stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Trading Down 5.0%

Shares of Verizon Communications stock opened at $41.49 on Tuesday. The firm has a market cap of $174.94 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The company’s 50-day simple moving average is $43.63 and its 200-day simple moving average is $43.33. 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 announced its quarterly earnings data 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 return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter 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, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 64.34%.

About Verizon Communications

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).