Blue Trust Inc. Buys 4,565 Shares of Verizon Communications Inc. $VZ

Blue Trust Inc. increased its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,019 shares of the cell phone carrier’s stock after acquiring an additional 4,565 shares during the quarter. Blue Trust Inc.’s holdings in Verizon Communications were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bernard Wealth Management Corp. grew its position in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares during the last quarter. Bulwark Capital Corp purchased a new position in shares of Verizon Communications in the second quarter worth $25,000. Cherry Tree Wealth Management LLC raised its stake in shares of 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 worth $26,000 after purchasing an additional 244 shares during the last quarter. Garde Capital Inc. purchased a new position in shares of Verizon Communications in the first quarter worth $26,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of Verizon Communications in the first quarter worth $29,000. 62.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VZ has been the subject of several research analyst reports. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Bank of America lifted their price objective on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. 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. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.86 on Friday. The stock has a 50-day simple moving average of $43.48 and a two-hundred day simple moving average of $43.26. 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 $168.05 billion, a PE ratio of 9.29, a P/E/G ratio of 3.08 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion during 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 business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is currently 63.17%.

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).