Heartland Bank & Trust Co Has $366,000 Holdings in Verizon Communications Inc. $VZ

Heartland Bank & Trust Co cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,447 shares of the cell phone carrier’s stock after selling 816 shares during the quarter. Heartland Bank & Trust Co’s holdings in Verizon Communications were worth $366,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bulwark Capital Corp acquired a new position in Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC lifted its holdings in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications in the 1st quarter worth $26,000. 1 North Wealth Services LLC bought a new position in shares of Verizon Communications in the 1st quarter worth $29,000. Finally, Accent Capital Management LLC bought a new position in shares of Verizon Communications in the 1st quarter worth $30,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Bank of America increased their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday, October 8th. 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’s stock. According to data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Trading Down 0.3%

NYSE VZ opened at $39.75 on Tuesday. The firm has a market capitalization of $167.58 billion, a P/E ratio of 9.26, a PEG ratio of 3.00 and a beta of 0.37. The business has a fifty day simple moving average of $43.41 and a 200 day simple moving average of $43.21. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business 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%.Verizon Communications’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.9%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is 64.34%.

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).