Triad Wealth Partners LLC Increases Stock Position in Verizon Communications Inc. $VZ

Triad Wealth Partners LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 12.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,618 shares of the cell phone carrier’s stock after buying an additional 1,545 shares during the period. Triad Wealth Partners LLC’s holdings in Verizon Communications were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Bernard Wealth Management Corp. boosted its position 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 worth $25,000 after purchasing an additional 243 shares during the period. Bulwark Capital Corp purchased a new position in Verizon Communications in the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC raised its stake in shares of Verizon Communications by 71.8% in the 1st 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. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at about $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at about $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.43 on Friday. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The firm’s fifty day simple moving average is $43.63 and its 200 day simple moving average is $43.36. 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 firm has a market capitalization of $183.12 billion, a PE ratio of 10.12, a PEG ratio of 3.38 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last posted its 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. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the business posted $1.15 EPS. Verizon Communications’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. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.4%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Analyst Ratings Changes

VZ has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley raised their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

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).