Verizon Communications Inc. $VZ Stock Holdings Boosted by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.5% in the 2nd quarter, Holdings Channel reports. The fund owned 59,267 shares of the cell phone carrier’s stock after buying an additional 2,008 shares during the period. Verizon Communications comprises 1.1% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Raleigh Capital Management Inc.’s holdings in Verizon Communications were worth $2,564,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. grew its position in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new position in Verizon Communications in the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC grew its position in 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 buying an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in Verizon Communications in the 1st quarter valued at about $26,000. Finally, 1 North Wealth Services LLC bought a new position in Verizon Communications in the 1st quarter valued at about $29,000. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VZ. JPMorgan Chase & Co. increased their target price 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. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Bank of America raised their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Three 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 company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $47.53.

Verizon Communications Stock Performance

NYSE:VZ opened at $43.23 on Tuesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. 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 company has a 50-day moving average of $43.59 and a 200-day moving average of $43.35. The firm has a market cap of $182.27 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS 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 company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the company posted $1.15 earnings per share. The business’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. Analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. The ex-dividend date is Friday, October 10th. 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 6.4%. Verizon Communications’s dividend payout ratio is 63.17%.

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).