Penbrook Management LLC Sells 2,936 Shares of Verizon Communications Inc. $VZ

Penbrook Management LLC lowered its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,935 shares of the cell phone carrier’s stock after selling 2,936 shares during the quarter. Verizon Communications comprises 1.0% of Penbrook Management LLC’s holdings, making the stock its 23rd largest holding. Penbrook Management LLC’s holdings in Verizon Communications were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in VZ. Brighton Jones LLC boosted its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Verizon Communications by 14.7% in the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock worth $3,114,000 after acquiring an additional 8,800 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Verizon Communications by 23.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,641,090 shares of the cell phone carrier’s stock worth $74,440,000 after acquiring an additional 313,457 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Verizon Communications in the first quarter worth about $5,484,000. Finally, Sound Income Strategies LLC boosted its holdings in Verizon Communications by 10.9% in the first quarter. Sound Income Strategies LLC now owns 15,205 shares of the cell phone carrier’s stock worth $690,000 after acquiring an additional 1,489 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.3%

Shares of NYSE:VZ opened at $39.75 on Tuesday. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The stock has a market cap of $167.58 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 3.00 and a beta of 0.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $43.41 and a 200-day moving average price of $43.21.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared 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 an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 64.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VZ shares. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday, October 8th. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average 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).