Miller Howard Investments Inc. NY Has $60.12 Million Stock Position in Verizon Communications Inc. $VZ

Miller Howard Investments Inc. NY grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,389,297 shares of the cell phone carrier’s stock after buying an additional 8,785 shares during the period. Verizon Communications comprises about 1.9% of Miller Howard Investments Inc. NY’s investment portfolio, making the stock its 18th biggest position. Miller Howard Investments Inc. NY’s holdings in Verizon Communications were worth $60,115,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VZ. Bernard Wealth Management Corp. increased its holdings in shares of 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 acquiring an additional 243 shares during the last quarter. Bulwark Capital Corp acquired a new position in Verizon Communications in the 2nd quarter valued at $25,000. Cherry Tree Wealth Management LLC grew its stake 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 acquiring an additional 244 shares in the last quarter. Garde Capital Inc. bought 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 Verizon Communications during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ opened at $43.53 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $183.54 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 3.37 and a beta of 0.36. The stock has a 50 day moving average of $43.35 and a 200 day moving average of $43.40. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

Verizon Communications (NYSE:VZ) last announced its 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 during the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the firm posted $1.15 EPS. The business’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. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Analyst Upgrades and Downgrades

VZ has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Wall Street Zen upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Bank of America lifted their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.65.

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).