NBC Securities Inc. Has $3.04 Million Stock Holdings in Verizon Communications Inc. $VZ

NBC Securities Inc. trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,267 shares of the cell phone carrier’s stock after selling 5,225 shares during the quarter. NBC Securities Inc.’s holdings in Verizon Communications were worth $3,040,000 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 the business. Kestra Investment Management LLC raised its stake in Verizon Communications by 121.8% during the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock worth $8,007,000 after buying an additional 96,931 shares during the period. BridgePort Financial Solutions LLC acquired a new position in Verizon Communications during the 4th quarter worth approximately $381,000. Element Capital Management LLC acquired a new position in Verizon Communications during the 1st quarter worth approximately $2,799,000. Meyer Handelman Co. raised its stake in Verizon Communications by 7.4% during the 1st quarter. Meyer Handelman Co. now owns 1,110,948 shares of the cell phone carrier’s stock worth $50,393,000 after buying an additional 76,083 shares during the period. Finally, Rempart Asset Management Inc. raised its stake in Verizon Communications by 52.8% during the 1st quarter. Rempart Asset Management Inc. now owns 310,390 shares of the cell phone carrier’s stock worth $14,079,000 after buying an additional 107,200 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VZ. Wells Fargo & Company upped their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target on the stock. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Bank of America boosted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Stock Performance

Shares of VZ opened at $43.99 on Monday. 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 stock has a 50 day moving average price of $43.22 and a two-hundred day moving average price of $43.38. The firm has a market capitalization of $185.48 billion, a P/E ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ) last issued 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 during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend 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).