Jeppson Wealth Management LLC Has $3.77 Million Stake in Verizon Communications Inc. $VZ

Jeppson Wealth Management LLC trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 0.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 87,169 shares of the cell phone carrier’s stock after selling 677 shares during the period. Verizon Communications accounts for approximately 1.3% of Jeppson Wealth Management LLC’s investment portfolio, making the stock its 13th biggest holding. Jeppson Wealth Management LLC’s holdings in Verizon Communications were worth $3,772,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Sargent Investment Group LLC lifted its holdings in Verizon Communications by 3.3% in the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after purchasing an additional 230 shares during the last quarter. Crescent Sterling Ltd. lifted its holdings in Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier’s stock worth $1,402,000 after purchasing an additional 235 shares during the last quarter. Providence Capital Advisors LLC lifted its holdings in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after purchasing an additional 240 shares during the last quarter. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% in 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. Finally, Wright Investors Service Inc. lifted its holdings in Verizon Communications by 1.2% in the 2nd quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after purchasing an additional 243 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $43.21 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average is $43.47 and its two-hundred day moving average is $43.38. The company has a market cap of $182.17 billion, a P/E ratio of 10.07, a P/E/G ratio of 3.34 and a beta of 0.36. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results 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. The company had revenue of $34.50 billion for the quarter, compared to the consensus estimate 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 business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.69 per share. 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 dividend yield of 6.4%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) 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).