Drucker Wealth 3.0 LLC Sells 4,326 Shares of Verizon Communications Inc. $VZ

Drucker Wealth 3.0 LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 7.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,188 shares of the cell phone carrier’s stock after selling 4,326 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in Verizon Communications were worth $2,181,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VZ. Brighton Jones LLC raised its holdings in shares of Verizon Communications by 61.2% in the fourth 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Verizon Communications by 14.7% in the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock valued at $3,114,000 after purchasing an additional 8,800 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Verizon Communications by 12.9% in the first quarter. Capital Advisors Ltd. LLC now owns 3,291 shares of the cell phone carrier’s stock valued at $149,000 after purchasing an additional 376 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Verizon Communications by 19.6% in the first quarter. Simon Quick Advisors LLC now owns 29,098 shares of the cell phone carrier’s stock valued at $1,320,000 after purchasing an additional 4,775 shares during the last quarter. Finally, Net Worth Advisory Group acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $231,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VZ. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday. Bank of America boosted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Scotiabank boosted their target price on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Three equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Price Performance

NYSE:VZ opened at $39.86 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a market cap of $168.05 billion, a P/E ratio of 9.29, a P/E/G ratio of 3.08 and a beta of 0.37. The firm’s fifty day moving average price is $43.48 and its two-hundred day moving average price is $43.26. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS 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 firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The company’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. Equities analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This is a boost 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 6.9%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Verizon Communications 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).