Courier Capital LLC Reduces Stake in Verizon Communications Inc. $VZ

Courier Capital LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,290 shares of the cell phone carrier’s stock after selling 1,209 shares during the period. Courier Capital LLC’s holdings in Verizon Communications were worth $1,267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Verizon Communications by 61.2% during the 4th 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 8,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Verizon Communications by 23.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,641,090 shares of the cell phone carrier’s stock valued at $74,440,000 after buying an additional 313,457 shares during the period. Grimes & Company Inc. increased its holdings in Verizon Communications by 7.1% during the first quarter. Grimes & Company Inc. now owns 268,667 shares of the cell phone carrier’s stock valued at $12,187,000 after buying an additional 17,696 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings in Verizon Communications by 21.4% during the first quarter. Grove Bank & Trust now owns 9,926 shares of the cell phone carrier’s stock valued at $450,000 after buying an additional 1,750 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $40.57 on Wednesday. The stock has a 50-day moving average price of $43.37 and a 200 day moving average price of $43.19. The stock has a market capitalization of $171.04 billion, a P/E ratio of 9.46, a P/E/G ratio of 3.00 and a beta of 0.37. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 positive change 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 6.8%. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 64.34%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VZ shares. JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Scotiabank raised their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday, October 6th. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Finally, Bank of America raised their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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).