Stockman Wealth Management Inc. Buys 2,839 Shares of Verizon Communications Inc. $VZ

Stockman Wealth Management Inc. grew its stake in Verizon Communications Inc. (NYSE:VZ) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,487 shares of the cell phone carrier’s stock after acquiring an additional 2,839 shares during the period. Stockman Wealth Management Inc.’s holdings in Verizon Communications were worth $7,593,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VZ. Bernard Wealth Management Corp. lifted 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 purchasing an additional 243 shares during the last quarter. Bulwark Capital Corp acquired a new stake in Verizon Communications in the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC lifted its stake in Verizon Communications by 71.8% in the 1st 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 last quarter. Garde Capital Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at about $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in Verizon Communications in the 1st quarter valued at about $29,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.6%

NYSE VZ opened at $43.60 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a 50 day moving average of $43.57 and a 200-day moving average of $43.36. The company has a market cap of $183.83 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.37 and a beta of 0.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date is Friday, October 10th. This is a positive change 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 6.3%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Wall Street Analysts Forecast Growth

VZ has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Royal Bank Of Canada raised 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 report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Three equities research 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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).