Cornell Pochily Investment Advisors Inc. Raises Stake in Verizon Communications Inc. $VZ

Cornell Pochily Investment Advisors Inc. boosted its position in Verizon Communications Inc. (NYSE:VZ) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,909 shares of the cell phone carrier’s stock after buying an additional 2,133 shares during the quarter. Verizon Communications makes up approximately 0.9% of Cornell Pochily Investment Advisors Inc.’s portfolio, making the stock its 29th biggest position. Cornell Pochily Investment Advisors Inc.’s holdings in Verizon Communications were worth $2,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of VZ. Bernard Wealth Management Corp. boosted its stake in Verizon Communications by 81.0% in the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new stake in Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC lifted its position 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. Garde Capital Inc. bought a new stake in Verizon Communications in the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $43.43 on Friday. 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 company has a market cap of $183.12 billion, a PE ratio of 10.12, a P/E/G ratio of 3.38 and a beta of 0.37. The business has a 50 day moving average of $43.63 and a 200 day moving average of $43.36. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter 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 research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.4%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications’s dividend payout ratio is currently 63.17%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VZ shares. Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Bank of America boosted their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Morgan Stanley boosted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.53.

About Verizon Communications

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).