Asset Advisors Investment Management LLC Has $1.19 Million Holdings in Verizon Communications Inc. $VZ

Asset Advisors Investment Management LLC boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,564 shares of the cell phone carrier’s stock after purchasing an additional 899 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Verizon Communications were worth $1,193,000 at the end of the most recent reporting period.

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

Verizon Communications Stock Down 0.9%

Shares of NYSE VZ opened at $43.43 on Friday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. 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’s 50 day simple moving average is $43.63 and its two-hundred day simple moving average is $43.36. The stock has a market capitalization of $183.12 billion, a P/E ratio of 10.12, a PEG ratio of 3.38 and a beta of 0.37.

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, 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 business had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the business earned $1.15 earnings per share. The business’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. As a group, analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.4%. Verizon Communications’s payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VZ shares. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

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).