Widmann Financial Services Inc. Raises Stock Holdings in Verizon Communications Inc. $VZ

Widmann Financial Services Inc. raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,568 shares of the cell phone carrier’s stock after acquiring an additional 724 shares during the period. Verizon Communications makes up 1.2% of Widmann Financial Services Inc.’s holdings, making the stock its 24th biggest holding. Widmann Financial Services Inc.’s holdings in Verizon Communications were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in VZ. Bernard Wealth Management Corp. boosted its position in shares of Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares during the period. Garde Capital Inc. acquired a new position in Verizon Communications in the 1st quarter valued at about $26,000. Cherry Tree Wealth Management LLC increased its stake in Verizon Communications by 71.8% during the first 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 during the period. Accent Capital Management LLC acquired a new stake in shares of Verizon Communications during the first quarter worth about $30,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the first quarter valued at approximately $32,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Tigress Financial lifted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Finally, Bank of America boosted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Three research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.35.

Verizon Communications Trading Down 1.4%

Shares of VZ stock opened at $44.3840 on Monday. The business’s fifty day moving average price is $42.80 and its 200 day moving average price is $43.15. The firm has a market capitalization of $187.14 billion, a PE ratio of 10.35, a P/E/G ratio of 3.43 and a beta of 0.36. 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 Inc. has a 1-year low of $37.58 and a 1-year high of $47.35.

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, topping analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.6775 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.1%. Verizon Communications’s payout ratio is currently 63.17%.

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).