Verizon Communications Inc. $VZ Shares Sold by Jones Financial Companies Lllp

Jones Financial Companies Lllp reduced its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 85.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,159 shares of the cell phone carrier’s stock after selling 730,950 shares during the quarter. Jones Financial Companies Lllp’s holdings in Verizon Communications were worth $5,541,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. boosted its position in Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 243 shares during the period. Cherry Tree Wealth Management LLC lifted its stake in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. purchased a new stake in shares of Verizon Communications in the first quarter worth about $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at about $29,000. Finally, Accent Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.5%

NYSE VZ opened at $43.55 on Wednesday. The company has a market capitalization of $183.62 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company’s fifty day moving average price is $43.20 and its two-hundred day moving average price is $43.37.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for 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 revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, research analysts predict 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 paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.3%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of analyst reports. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their target price 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. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. 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 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.65.

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).