Sachetta LLC Purchases 292 Shares of Verizon Communications Inc. $VZ

Sachetta LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,112 shares of the cell phone carrier’s stock after acquiring an additional 292 shares during the quarter. Sachetta LLC’s holdings in Verizon Communications were worth $351,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. boosted its stake in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC lifted its holdings in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the period. Garde Capital Inc. bought a new stake in Verizon Communications during the 1st quarter valued at $26,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $41.49 on Tuesday. The company has a 50 day moving average price of $43.63 and a 200 day moving average price of $43.33. The firm has a market capitalization of $174.94 billion, a P/E ratio of 9.67, a PEG ratio of 3.37 and a beta of 0.37. 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 Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

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 analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. Verizon Communications’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 64.34%.

Analyst Ratings Changes

A number of brokerages recently weighed in on VZ. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Scotiabank increased their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research report on Monday. Bank of America lifted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

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).