Total Clarity Wealth Management Inc. Sells 3,052 Shares of Verizon Communications Inc. $VZ

Total Clarity Wealth Management Inc. trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,894 shares of the cell phone carrier’s stock after selling 3,052 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Verizon Communications were worth $1,683,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC increased 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 period. Element Capital Management LLC bought a new position in Verizon Communications during the first quarter worth about $2,799,000. Autumn Glory Partners LLC increased 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 period. Davidson Trust Co. increased its position in Verizon Communications by 95.5% during the first quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock worth $1,215,000 after acquiring an additional 13,082 shares during the period. Finally, Financial Network Wealth Advisors LLC increased its position in Verizon Communications by 68.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock worth $313,000 after acquiring an additional 2,802 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Scotiabank raised 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 note on Monday, October 6th. Three equities research 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 company. According to data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.86 on Monday. The company has a fifty day moving average of $43.48 and a 200-day moving average of $43.24. The firm has a market capitalization of $168.05 billion, a P/E ratio of 9.29, a P/E/G ratio of 3.00 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 twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during 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 previous year, the business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS 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 dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.9%. Verizon Communications’s dividend payout ratio (DPR) is presently 64.34%.

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).