Ransom Advisory Ltd Takes $741,000 Position in Verizon Communications Inc. $VZ

Ransom Advisory Ltd purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the first quarter, Holdings Channel.com reports. The firm purchased 16,338 shares of the cell phone carrier’s stock, valued at approximately $741,000.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Bernard Wealth Management Corp. increased its holdings in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its position 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. acquired a new stake in shares of Verizon Communications in the 1st quarter worth $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter worth $29,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Verizon Communications in the 1st quarter worth $30,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE:VZ opened at $43.55 on Wednesday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The stock has a 50 day moving average of $43.20 and a two-hundred day moving average of $43.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The firm has a market cap of $183.62 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the previous year, the business earned $1.15 EPS. Verizon Communications’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, analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VZ. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Wells Fargo & Company boosted their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. 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 report on Tuesday, July 22nd. Morgan Stanley boosted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.65.

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).