Persium Advisors LLC Has $776,000 Stock Position in Verizon Communications Inc. $VZ

Persium Advisors LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,941 shares of the cell phone carrier’s stock after purchasing an additional 604 shares during the period. Verizon Communications accounts for approximately 0.6% of Persium Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Persium Advisors LLC’s holdings in Verizon Communications were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in VZ. Bernard Wealth Management Corp. raised 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 worth $25,000 after purchasing an additional 243 shares during the last quarter. Cherry Tree Wealth Management LLC increased 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 buying an additional 244 shares during the period. Garde Capital Inc. bought a new position in Verizon Communications during the first quarter worth $26,000. 1 North Wealth Services LLC acquired a new position in Verizon Communications in the first quarter valued at $29,000. Finally, Accent Capital Management LLC bought a new stake in Verizon Communications during the first quarter valued at $30,000. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on VZ shares. Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Bank of America boosted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $47.00 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, seven have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Stock Down 0.3%

VZ stock opened at $43.99 on Monday. The firm has a market capitalization of $185.48 billion, a PE ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock’s 50 day moving average is $43.22 and its 200-day moving average is $43.38.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 63.17%.

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).