C2C Wealth Management LLC Has $751,000 Stake in Verizon Communications Inc. $VZ

C2C Wealth Management LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 18.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,356 shares of the cell phone carrier’s stock after selling 3,848 shares during the period. C2C Wealth Management LLC’s holdings in Verizon Communications were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bernard Wealth Management Corp. lifted its holdings in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares during the period. Garde Capital Inc. acquired a new position in Verizon Communications in the first quarter valued at $26,000. Cherry Tree Wealth Management LLC raised its holdings 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 valued at $26,000 after purchasing an additional 244 shares during the period. Bulwark Capital Corp acquired a new position in shares of Verizon Communications during the second quarter valued at about $25,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications during the first quarter valued at about $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.9%

NYSE:VZ opened at $43.23 on Tuesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The firm has a 50-day moving average of $43.59 and a 200-day moving average of $43.35. The company has a market cap of $182.27 billion, a PE ratio of 10.08, a PEG ratio of 3.37 and a beta of 0.36. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35.

Verizon Communications (NYSE:VZ) last posted its 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 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS 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 given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. 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 6.4%. Verizon Communications’s payout ratio is presently 63.17%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VZ. JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday. Three 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.53.

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).