Belpointe Asset Management LLC Boosts Stock Position in Verizon Communications Inc. $VZ

Belpointe Asset Management LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,285 shares of the cell phone carrier’s stock after purchasing an additional 1,714 shares during the period. Belpointe Asset Management LLC’s holdings in Verizon Communications were worth $3,993,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position 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 valued at $1,759,000 after purchasing an additional 16,704 shares during the period. Sivia Capital Partners LLC raised its stake in Verizon Communications by 4.4% in the first quarter. Sivia Capital Partners LLC now owns 9,794 shares of the cell phone carrier’s stock worth $444,000 after buying an additional 413 shares in the last quarter. UMB Bank n.a. lifted its holdings in Verizon Communications by 6.8% in the first quarter. UMB Bank n.a. now owns 105,944 shares of the cell phone carrier’s stock worth $4,806,000 after buying an additional 6,771 shares during the period. Revolve Wealth Partners LLC boosted its position in Verizon Communications by 12.3% during the 1st quarter. Revolve Wealth Partners LLC now owns 7,656 shares of the cell phone carrier’s stock valued at $347,000 after acquiring an additional 840 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of Verizon Communications by 4.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 30,644 shares of the cell phone carrier’s stock worth $1,390,000 after acquiring an additional 1,412 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

NYSE VZ opened at $43.68 on Monday. The firm has a market cap of $184.17 billion, a price-to-earnings ratio of 10.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. 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. The business has a 50-day moving average price of $43.65 and a 200-day moving average price of $43.35.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping 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 firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The company’s quarterly 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. As a group, equities research 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. Investors of record on Friday, October 10th will be given a $0.69 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Royal Bank Of Canada upped their price target 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. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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).