Sage Capital Advisors llc Boosts Holdings in Verizon Communications Inc. $VZ

Sage Capital Advisors llc grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 1.0% in the second quarter, Holdings Channel reports. The firm owned 138,647 shares of the cell phone carrier’s stock after acquiring an additional 1,309 shares during the period. Verizon Communications accounts for approximately 1.5% of Sage Capital Advisors llc’s holdings, making the stock its 20th largest position. Sage Capital Advisors llc’s holdings in Verizon Communications were worth $5,999,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. boosted its stake 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 valued at $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC boosted its stake 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 valued at $26,000 after purchasing an additional 244 shares during the period. Garde Capital Inc. purchased a new stake in shares of Verizon Communications during the first quarter valued at $26,000. 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at $29,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at $30,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VZ. Morgan Stanley boosted their target price 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. Bank of America upped their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Royal Bank Of Canada upped their price objective 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. Finally, Wall Street Zen raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Three 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $43.99 on Friday. The company has a market capitalization of $185.48 billion, a PE ratio of 10.25, a P/E/G ratio of 3.40 and a beta of 0.36. 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 50-day simple moving average of $43.22 and a two-hundred day simple moving average of $43.38. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35.

Verizon Communications (NYSE:VZ) last announced its earnings results 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 business had revenue of $34.50 billion during 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 period in the previous year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is presently 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).