Atria Wealth Solutions Inc. Has $8.40 Million Holdings in Verizon Communications Inc. $VZ

Atria Wealth Solutions Inc. lessened its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 47.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 193,712 shares of the cell phone carrier’s stock after selling 172,658 shares during the period. Atria Wealth Solutions Inc.’s holdings in Verizon Communications were worth $8,400,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its holdings in Verizon Communications by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 364,272 shares of the cell phone carrier’s stock worth $15,762,000 after purchasing an additional 1,500 shares during the last quarter. RoundAngle Advisors LLC raised its position in shares of Verizon Communications by 3.7% in the second quarter. RoundAngle Advisors LLC now owns 32,515 shares of the cell phone carrier’s stock valued at $1,407,000 after purchasing an additional 1,150 shares during the period. Astoria Portfolio Advisors LLC. lifted its stake in shares of Verizon Communications by 24.5% in the second quarter. Astoria Portfolio Advisors LLC. now owns 6,337 shares of the cell phone carrier’s stock worth $273,000 after buying an additional 1,246 shares during the last quarter. Concord Asset Management LLC VA boosted its holdings in shares of Verizon Communications by 40.0% during the 2nd quarter. Concord Asset Management LLC VA now owns 39,125 shares of the cell phone carrier’s stock worth $1,693,000 after buying an additional 11,186 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Verizon Communications by 6.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 275,659 shares of the cell phone carrier’s stock worth $11,928,000 after buying an additional 15,862 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Trading Down 2.4%

NYSE VZ opened at $39.86 on Monday. 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 market cap of $168.05 billion, a P/E ratio of 9.29, a P/E/G ratio of 3.00 and a beta of 0.37. The stock’s 50-day moving average is $43.48 and its 200-day moving average is $43.24. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (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 was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is a boost 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 6.9%. Verizon Communications’s dividend payout ratio is 64.34%.

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).