Missouri Trust & Investment Co Buys 263 Shares of Verizon Communications Inc. $VZ

Missouri Trust & Investment Co boosted its position in Verizon Communications Inc. (NYSE:VZ) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,481 shares of the cell phone carrier’s stock after purchasing an additional 263 shares during the period. Missouri Trust & Investment Co’s holdings in Verizon Communications were worth $194,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Bernard Wealth Management Corp. raised its stake 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 valued at $25,000 after acquiring an additional 243 shares during the period. Bulwark Capital Corp bought a new position in Verizon Communications during the second quarter worth about $25,000. Cherry Tree Wealth Management LLC increased its stake in shares of Verizon Communications by 71.8% in the first 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. bought a new stake in shares of Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Down 0.3%

Shares of NYSE VZ opened at $43.21 on Thursday. 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 business has a 50-day moving average of $43.47 and a 200-day moving average of $43.38. The firm has a market capitalization of $182.17 billion, a price-to-earnings ratio of 10.07, a PEG 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 announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business 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 posted $1.15 earnings per share. Verizon Communications’s revenue for the quarter was up 5.2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.4%. 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 presently 63.17%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VZ. JPMorgan Chase & Co. lifted their price objective 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. Bank of America lifted their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Morgan Stanley upped their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $47.53.

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).