Valley National Advisers Inc. Has $1.04 Million Stock Position in Verizon Communications Inc. $VZ

Valley National Advisers Inc. grew its stake in Verizon Communications Inc. (NYSE:VZ) by 16.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,964 shares of the cell phone carrier’s stock after buying an additional 3,305 shares during the quarter. Valley National Advisers Inc.’s holdings in Verizon Communications were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. increased its stake in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the last quarter. Bulwark Capital Corp acquired a new position in Verizon Communications during the second quarter worth approximately $25,000. Cherry Tree Wealth Management LLC raised its stake in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on VZ. Morgan Stanley upped 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. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Wells Fargo & Company upped their target price 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. Finally, Bank of America lifted their price target on Verizon Communications from $45.00 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, six have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.53.

Verizon Communications Price Performance

Verizon Communications stock opened at $43.68 on Monday. The company has a market capitalization of $184.17 billion, a PE ratio of 10.18, a P/E/G ratio of 3.37 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average price of $43.65 and a two-hundred day moving average price of $43.35. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 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 (EPS) for the quarter, beating 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 business 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 earned $1.15 EPS. The firm’s quarterly 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. Analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. 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 yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

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).