Verizon Communications Inc. $VZ Shares Purchased by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 6.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 36,503 shares of the cell phone carrier’s stock after acquiring an additional 2,293 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Verizon Communications were worth $1,576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. raised its position 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 worth $25,000 after acquiring an additional 243 shares in the last quarter. Bulwark Capital Corp purchased a new stake in shares of Verizon Communications in the second quarter valued at $25,000. Cherry Tree Wealth Management LLC raised its position in 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 buying an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Verizon Communications during the first quarter worth $29,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Down 5.0%

Shares of VZ opened at $41.49 on Tuesday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The firm has a market capitalization of $174.94 billion, a P/E ratio of 9.67, a P/E/G ratio of 3.37 and a beta of 0.37. The company has a 50-day simple moving average of $43.63 and a 200-day simple moving average of $43.33.

Verizon Communications (NYSE:VZ) last posted its 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. The business had revenue of $34.50 billion for the quarter, compared to analysts’ expectations 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 quarter 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. On average, equities research analysts expect that Verizon Communications Inc. will post 4.69 earnings per share for the current 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 dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. Verizon Communications’s dividend payout ratio is 64.34%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VZ. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Verizon Communications in a research note on Saturday, September 27th. Morgan Stanley increased their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. 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. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has an average rating of “Moderate Buy” and an average price target of $47.63.

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).