Fairvoy Private Wealth LLC Buys 349 Shares of Verizon Communications Inc. $VZ

Fairvoy Private Wealth LLC grew its stake in Verizon Communications Inc. (NYSE:VZ) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,390 shares of the cell phone carrier’s stock after acquiring an additional 349 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Verizon Communications were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ. GQG Partners LLC lifted its holdings in shares of Verizon Communications by 303.9% during 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 purchasing an additional 37,516,167 shares in the last quarter. Nuveen LLC purchased a new stake in Verizon Communications during the first quarter valued at $661,720,000. Pacer Advisors Inc. increased its position in Verizon Communications by 737.5% during the first quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier’s stock valued at $530,576,000 after acquiring an additional 10,300,369 shares during the last quarter. Acadian Asset Management LLC increased its position in Verizon Communications by 301.2% during the first quarter. Acadian Asset Management LLC now owns 8,504,920 shares of the cell phone carrier’s stock valued at $385,750,000 after acquiring an additional 6,385,197 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Verizon Communications by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier’s stock valued at $1,434,572,000 after acquiring an additional 5,392,416 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.68 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $43.65 and a two-hundred day simple moving average of $43.36. The stock has a market cap of $184.17 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.35 and a beta of 0.37. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ) last released its earnings results 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 firm had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter last year, the business 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. On average, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.69 per share. This is an increase 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 (DPR) is 63.17%.

Analyst Ratings Changes

A number of analysts recently commented on VZ shares. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a research report on Saturday, September 27th. Bank of America upped their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Company 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).