Sax Wealth Advisors LLC Has $1.31 Million Stock Holdings in Verizon Communications Inc. $VZ

Sax Wealth Advisors LLC lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 71.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,043 shares of the cell phone carrier’s stock after acquiring an additional 12,936 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Verizon Communications were worth $1,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Cardano Risk Management B.V. lifted its position in shares of Verizon Communications by 3.5% in the 2nd quarter. Cardano Risk Management B.V. now owns 2,372,766 shares of the cell phone carrier’s stock worth $100,463,000 after purchasing an additional 80,109 shares during the period. Adamsbrown Wealth Consultants LLC boosted its stake in shares of Verizon Communications by 11.6% in the 2nd quarter. Adamsbrown Wealth Consultants LLC now owns 5,173 shares of the cell phone carrier’s stock valued at $219,000 after purchasing an additional 538 shares during the last quarter. Crumly & Associates Inc. increased its position in shares of Verizon Communications by 2.9% during the second quarter. Crumly & Associates Inc. now owns 12,686 shares of the cell phone carrier’s stock worth $537,000 after buying an additional 362 shares during the period. MRA Advisory Group increased its position in shares of Verizon Communications by 40.0% during the second quarter. MRA Advisory Group now owns 15,610 shares of the cell phone carrier’s stock worth $661,000 after buying an additional 4,459 shares during the period. Finally, Gradient Investments LLC raised its stake in Verizon Communications by 252.3% during the second quarter. Gradient Investments LLC now owns 15,629 shares of the cell phone carrier’s stock worth $662,000 after buying an additional 11,193 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VZ. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. TD Cowen lifted their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. boosted their price objective on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley upped their target price on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $50.84.

Verizon Communications Stock Down 0.1%

Verizon Communications stock opened at $47.00 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The firm’s fifty day moving average is $45.19 and its 200 day moving average is $46.76. The company has a market capitalization of $195.28 billion, a PE ratio of 12.24, a PEG ratio of 1.31 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The business had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s dividend payout ratio is 73.70%.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.