Verizon Communications Inc. $VZ Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 33.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,353,003 shares of the cell phone carrier’s stock after acquiring an additional 338,365 shares during the period. Vontobel Holding Ltd.’s holdings in Verizon Communications were worth $58,544,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. grew its position in shares of Verizon Communications by 81.0% during 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 acquired a new stake in shares of Verizon Communications during the 2nd quarter valued at about $25,000. Cherry Tree Wealth Management LLC grew its position in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 244 shares during the period. Garde Capital Inc. acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $26,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications during the 1st quarter valued at about $29,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.1%

VZ stock opened at $41.35 on Thursday. The firm has a market cap of $174.35 billion, a PE ratio of 9.64, a PEG ratio of 3.20 and a beta of 0.37. 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’s 50 day moving average price is $43.58 and its 200-day moving average price is $43.30. Verizon Communications Inc. has a one year low of $37.58 and a one year 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 analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is an increase 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 6.7%. Verizon Communications’s payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VZ shares. Royal Bank Of Canada lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Wall Street Zen cut 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 report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

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).