Verizon Communications Inc. $VZ Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in Verizon Communications Inc. (NYSE:VZ) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 501,643 shares of the cell phone carrier’s stock after selling 6,055 shares during the period. Mutual of America Capital Management LLC’s holdings in Verizon Communications were worth $21,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bulwark Capital Corp acquired a new stake in Verizon Communications in the second quarter valued at approximately $25,000. Garde Capital Inc. purchased a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at $29,000. Accent Capital Management LLC acquired a new position in shares of Verizon Communications during the first quarter worth $30,000. Finally, RMG Wealth Management LLC acquired a new position in shares of Verizon Communications during the second quarter worth $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VZ. Royal Bank Of Canada lifted their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Price Performance

VZ stock opened at $40.56 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $170.99 billion, a P/E ratio of 9.45, a PEG ratio of 3.06 and a beta of 0.37. The business has a 50 day simple moving average of $43.23 and a 200-day simple moving average of $43.09. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. Verizon Communications’s revenue for the quarter was up 5.2% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.8%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is currently 64.34%.

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).