Verizon Communications Inc. $VZ Stock Holdings Increased by Crews Bank & Trust

Crews Bank & Trust increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 22.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,873 shares of the cell phone carrier’s stock after purchasing an additional 3,283 shares during the quarter. Crews Bank & Trust’s holdings in Verizon Communications were worth $773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sargent Investment Group LLC raised its holdings in shares of Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after purchasing an additional 230 shares in the last quarter. Crescent Sterling Ltd. raised its holdings in shares of Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock valued at $1,402,000 after acquiring an additional 235 shares during the period. Providence Capital Advisors LLC raised its holdings in shares of Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock valued at $3,637,000 after acquiring an additional 240 shares during the period. Bernard Wealth Management Corp. raised its holdings in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares during the period. Finally, Wright Investors Service Inc. raised its holdings in shares of Verizon Communications by 1.2% during the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock valued at $920,000 after acquiring an additional 243 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.43 on Friday. The company’s 50 day moving average price is $43.63 and its 200 day moving average price is $43.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company 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. 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 (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 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 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 previous year, the firm posted $1.15 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.4%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target 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. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price target 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. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target on the stock. Finally, Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.53.

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).