Turtle Creek Wealth Advisors LLC Purchases 866 Shares of Verizon Communications Inc. $VZ

Turtle Creek Wealth Advisors LLC grew its position in Verizon Communications Inc. (NYSE:VZ) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,609 shares of the cell phone carrier’s stock after buying an additional 866 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Verizon Communications were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VZ. Sargent Investment Group LLC increased its stake in shares of Verizon Communications by 3.3% during the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after buying an additional 230 shares during the period. Providence Capital Advisors LLC increased its stake in shares of Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after buying an additional 240 shares during the period. Wright Investors Service Inc. increased its stake in shares of Verizon Communications by 1.2% during the second quarter. Wright Investors Service Inc. now owns 21,255 shares of the cell phone carrier’s stock worth $920,000 after buying an additional 243 shares during the period. Cherry Tree Wealth Management LLC increased its stake in 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 valued at $26,000 after purchasing an additional 244 shares during the last quarter. Finally, Platform Technology Partners increased its stake in Verizon Communications by 0.8% in the first quarter. Platform Technology Partners now owns 31,513 shares of the cell phone carrier’s stock valued at $1,429,000 after purchasing an additional 246 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

VZ stock opened at $40.38 on Friday. The company has a market capitalization of $170.26 billion, a P/E ratio of 9.41, a PEG ratio of 3.04 and a beta of 0.37. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The business has a 50 day simple moving average of $43.28 and a 200-day simple moving average of $43.13. 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 data 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 business had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities analysts anticipate 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 issued a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s dividend payout ratio is 64.34%.

Analyst Ratings Changes

Several equities analysts have commented on VZ shares. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target on the stock. Scotiabank increased their price target on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research note on Monday, October 6th. Bank of America increased their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Royal Bank Of Canada increased their price target on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average price target 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).