Simplicity Wealth LLC Grows Stake in Verizon Communications Inc. $VZ

Simplicity Wealth LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 158.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,631 shares of the cell phone carrier’s stock after purchasing an additional 58,656 shares during the period. Simplicity Wealth LLC’s holdings in Verizon Communications were worth $4,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kestra Investment Management LLC boosted its position in Verizon Communications by 121.8% during the first quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock worth $8,007,000 after acquiring an additional 96,931 shares during the last quarter. Element Capital Management LLC acquired a new position in Verizon Communications during the first quarter worth about $2,799,000. Autumn Glory Partners LLC boosted its position in Verizon Communications by 25.8% during the first quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier’s stock worth $2,825,000 after acquiring an additional 12,760 shares during the last quarter. Davidson Trust Co. boosted its holdings in Verizon Communications by 95.5% in the 1st quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock valued at $1,215,000 after purchasing an additional 13,082 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its holdings in Verizon Communications by 68.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock valued at $313,000 after purchasing an additional 2,802 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Three equities research 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Stock Performance

Shares of VZ stock opened at $43.68 on Friday. The firm’s 50 day moving average price is $43.65 and its 200-day moving average price is $43.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The firm has a market cap of $184.17 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.37 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 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).