Koshinski Asset Management Inc. Boosts Position in Verizon Communications Inc. $VZ

Koshinski Asset Management Inc. raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,036 shares of the cell phone carrier’s stock after buying an additional 4,988 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Verizon Communications were worth $4,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bulwark Capital Corp purchased a new stake in Verizon Communications in the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC lifted its position 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 purchasing an additional 244 shares during the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications during the first quarter valued at approximately $26,000. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications during the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC bought a new position in shares of Verizon Communications during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Scotiabank increased their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. The Goldman Sachs Group began coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target for the company. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Bank of America boosted their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Up 0.5%

NYSE VZ opened at $40.56 on Friday. The stock’s 50 day moving average is $43.23 and its 200 day moving average is $43.10. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The stock has a market cap of $170.99 billion, a PE ratio of 9.45, a P/E/G ratio of 3.04 and a beta of 0.37.

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 return on equity of 19.61% and a net margin of 13.28%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio 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).