Financial Strategies Group Inc. Sells 70,521 Shares of Verizon Communications Inc. $VZ

Financial Strategies Group Inc. reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 36.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,279 shares of the cell phone carrier’s stock after selling 70,521 shares during the period. Verizon Communications comprises about 1.3% of Financial Strategies Group Inc.’s investment portfolio, making the stock its 24th biggest position. Financial Strategies Group Inc.’s holdings in Verizon Communications were worth $5,483,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC lifted its position in shares of 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 in the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $26,000. 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $30,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Up 0.3%

Shares of NYSE:VZ opened at $44.32 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a market capitalization of $186.88 billion, a PE ratio of 10.33, a PEG ratio of 3.42 and a beta of 0.36. The company has a 50 day moving average price of $43.20 and a two-hundred day moving average price of $43.36.

Verizon Communications (NYSE:VZ) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. 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. Analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on VZ shares. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” 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. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Bank of America increased their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $47.65.

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).