DeDora Capital Inc. Sells 6,992 Shares of Verizon Communications Inc. $VZ

DeDora Capital Inc. lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 43.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,950 shares of the cell phone carrier’s stock after selling 6,992 shares during the quarter. DeDora Capital Inc.’s holdings in Verizon Communications were worth $387,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Sargent Investment Group LLC raised its position in Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock valued at $323,000 after purchasing an additional 230 shares during the last quarter. Providence Capital Advisors LLC raised its position in Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after purchasing an additional 240 shares during the last quarter. Wright Investors Service Inc. raised its position in Verizon Communications by 1.2% in the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after purchasing an additional 243 shares during the last quarter. Platform Technology Partners raised its position in Verizon Communications by 0.8% in the first quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock valued at $1,429,000 after purchasing an additional 246 shares during the last quarter. Finally, Mattern Wealth Management LLC raised its position in Verizon Communications by 2.6% in the first quarter. Mattern Wealth Management LLC now owns 9,812 shares of the cell phone carrier’s stock valued at $445,000 after purchasing an additional 250 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Up 0.5%

Shares of VZ stock opened at $40.56 on Friday. Verizon Communications Inc. has a fifty-two week low of $37.58 and a fifty-two week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a 50 day simple moving average of $43.23 and a two-hundred day simple moving average of $43.09. The company has a market cap of $170.99 billion, a P/E ratio of 9.45, a PEG ratio of 3.06 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The company’s 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. Research analysts forecast 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. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.8%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 64.34%.

Analysts Set New Price Targets

VZ has been the subject of several research reports. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada raised their price objective 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. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Morgan Stanley boosted their price target 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 analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.63.

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).