Boston Common Asset Management LLC Purchases 83,930 Shares of Verizon Communications Inc. $VZ

Boston Common Asset Management LLC grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 18.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 551,019 shares of the cell phone carrier’s stock after acquiring an additional 83,930 shares during the quarter. Boston Common Asset Management LLC’s holdings in Verizon Communications were worth $23,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC increased its stake in shares of Verizon Communications by 121.8% in the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock worth $8,007,000 after purchasing an additional 96,931 shares in the last quarter. Element Capital Management LLC purchased a new stake in shares of Verizon Communications in the 1st quarter worth $2,799,000. Autumn Glory Partners LLC increased its stake in shares of Verizon Communications by 25.8% in the 1st quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier’s stock worth $2,825,000 after purchasing an additional 12,760 shares in the last quarter. Davidson Trust Co. increased its stake in shares of Verizon Communications by 95.5% in the 1st quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock worth $1,215,000 after purchasing an additional 13,082 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC increased its stake in shares of Verizon Communications by 68.4% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock worth $313,000 after purchasing an additional 2,802 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank Of Canada upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company upped their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Trading Up 0.6%

Shares of Verizon Communications stock opened at $43.68 on Friday. The firm has a market cap of $184.17 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 3.37 and a beta of 0.37. The business has a 50-day moving average price of $43.65 and a 200-day moving average price of $43.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. 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 dividend on an annualized basis and a dividend yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

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).