Forbes J M & Co. LLP Boosts Stock Position in Verizon Communications Inc. $VZ

Forbes J M & Co. LLP grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,828 shares of the cell phone carrier’s stock after buying an additional 277 shares during the quarter. Forbes J M & Co. LLP’s holdings in Verizon Communications were worth $8,603,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Bernard Wealth Management Corp. grew 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 valued at $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp acquired a new position in shares of Verizon Communications during the 2nd quarter worth approximately $25,000. Cherry Tree Wealth Management LLC grew its position 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 purchasing an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on VZ shares. Wells Fargo & Company boosted their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley lifted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

Verizon Communications Price Performance

Shares of VZ stock opened at $43.95 on Wednesday. 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 firm’s 50-day moving average is $43.61 and its two-hundred day moving average is $43.36. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a market capitalization of $185.31 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter last year, the company posted $1.15 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts predict 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 dividend yield of 6.3%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s payout ratio is presently 63.17%.

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).