Advocate Group LLC Has $14.67 Million Stock Holdings in Verizon Communications Inc. $VZ

Advocate Group LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,090 shares of the cell phone carrier’s stock after selling 3,435 shares during the quarter. Verizon Communications comprises approximately 2.6% of Advocate Group LLC’s portfolio, making the stock its 5th biggest position. Advocate Group LLC’s holdings in Verizon Communications were worth $14,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier’s stock worth $16,700,279,000 after buying an additional 4,347,416 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier’s stock worth $4,983,225,000 after buying an additional 1,172,175 shares in the last quarter. GQG Partners LLC increased its holdings in Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock worth $2,261,648,000 after buying an additional 37,516,167 shares in the last quarter. Northern Trust Corp increased its holdings in Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier’s stock worth $2,062,750,000 after buying an additional 431,789 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Verizon Communications by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock worth $1,904,840,000 after buying an additional 3,100,342 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Down 2.4%

VZ stock opened at $39.86 on Friday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a market cap of $168.05 billion, a P/E ratio of 9.29, a PEG ratio of 3.00 and a beta of 0.37. The business’s 50-day moving average price is $43.48 and its 200-day moving average price is $43.25.

Verizon Communications (NYSE:VZ) last posted 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. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the previous year, the firm earned $1.15 EPS. The business’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. On average, equities research analysts forecast 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. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is presently 63.17%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Scotiabank lifted their price objective on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Bank of America raised their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Finally, Morgan Stanley raised their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.63.

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).