Oak Hill Wealth Advisors LLC Grows Position in Verizon Communications Inc. $VZ

Oak Hill Wealth Advisors LLC increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 15.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,398 shares of the cell phone carrier’s stock after purchasing an additional 2,141 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Verizon Communications were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its stake in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after buying an additional 16,704 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in Verizon Communications by 12.5% in the 1st quarter. Naples Global Advisors LLC now owns 9,206 shares of the cell phone carrier’s stock worth $418,000 after purchasing an additional 1,024 shares during the last quarter. Fermata Advisors LLC bought a new position in Verizon Communications in the 1st quarter worth approximately $203,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Verizon Communications by 33.9% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,722 shares of the cell phone carrier’s stock valued at $577,000 after purchasing an additional 3,221 shares during the period. Finally, Chesley Taft & Associates LLC boosted its stake in Verizon Communications by 3.5% in the first quarter. Chesley Taft & Associates LLC now owns 35,124 shares of the cell phone carrier’s stock worth $1,593,000 after purchasing an additional 1,175 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.6%

Shares of VZ stock opened at $43.68 on Friday. The company’s fifty day simple moving average is $43.65 and its two-hundred day simple moving average is $43.36. 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 stock has a market cap of $184.17 billion, a P/E 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 announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating 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 the consensus estimate of $33.47 billion. During the same period last year, the firm earned $1.15 earnings per share. Verizon Communications’s 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. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared 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. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is currently 63.17%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Wells Fargo & Company lifted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a research note on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus 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).