Verizon Communications Inc. $VZ Holdings Decreased by Atlas Brown Inc.

Atlas Brown Inc. reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,887 shares of the cell phone carrier’s stock after selling 341 shares during the quarter. Atlas Brown Inc.’s holdings in Verizon Communications were worth $1,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.2% in the first quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock valued at $16,700,279,000 after acquiring an additional 4,347,416 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verizon Communications by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock valued at $4,983,225,000 after acquiring an additional 1,172,175 shares in the last quarter. GQG Partners LLC boosted its holdings in shares of Verizon Communications by 303.9% in the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after acquiring an additional 37,516,167 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Verizon Communications by 1.0% in the first quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock valued at $2,062,750,000 after acquiring an additional 431,789 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Verizon Communications by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 0.3%

Verizon Communications stock opened at $43.99 on Monday. The company has a 50 day moving average price of $43.22 and a 200 day moving average price of $43.38. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market capitalization of $185.48 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the business posted $1.15 EPS. The company’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 forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced 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. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 63.17%.

Analyst Ratings Changes

VZ has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Morgan Stanley increased their price objective 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. Wells Fargo & Company increased their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and an average 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).