Verizon Communications Inc. $VZ Shares Sold by Stonehearth Capital Management LLC

Stonehearth Capital Management LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,482 shares of the cell phone carrier’s stock after selling 570 shares during the quarter. Stonehearth Capital Management LLC’s holdings in Verizon Communications were worth $497,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Cullen Investment Group LTD. boosted its stake in shares of Verizon Communications by 3.1% during the 2nd quarter. Cullen Investment Group LTD. now owns 177,150 shares of the cell phone carrier’s stock worth $7,665,000 after acquiring an additional 5,294 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Verizon Communications during the 1st quarter worth $11,969,000. Ridgepath Capital Management LLC boosted its stake in shares of Verizon Communications by 1.1% during the 1st quarter. Ridgepath Capital Management LLC now owns 95,792 shares of the cell phone carrier’s stock worth $4,345,000 after acquiring an additional 1,065 shares in the last quarter. Compass Financial Services Inc boosted its stake in shares of Verizon Communications by 111.6% during the 1st quarter. Compass Financial Services Inc now owns 1,733 shares of the cell phone carrier’s stock worth $79,000 after acquiring an additional 914 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC boosted its stake in shares of Verizon Communications by 6.5% during the 1st quarter. Bontempo Ohly Capital Mgmt LLC now owns 104,913 shares of the cell phone carrier’s stock worth $4,759,000 after acquiring an additional 6,442 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Price Performance

VZ opened at $43.99 on Friday. The stock has a fifty day moving average of $43.22 and a 200-day moving average of $43.38. The firm has a market capitalization of $185.48 billion, a P/E ratio of 10.25, a PEG ratio of 3.40 and a beta of 0.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. 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 (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period last year, the company earned $1.15 earnings per share. Verizon Communications’s quarterly 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. Equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is 63.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on 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 Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.65.

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).