TriaGen Wealth Management LLC Raises Stock Position in Verizon Communications Inc. $VZ

TriaGen Wealth Management LLC grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 9.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,869 shares of the cell phone carrier’s stock after acquiring an additional 1,008 shares during the period. TriaGen Wealth Management LLC’s holdings in Verizon Communications were worth $514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Joel Isaacson & Co. LLC increased its holdings in Verizon Communications by 8.7% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 49,598 shares of the cell phone carrier’s stock worth $2,146,000 after purchasing an additional 3,955 shares during the period. Sachetta LLC grew its position in shares of Verizon Communications by 3.7% during the 2nd quarter. Sachetta LLC now owns 8,112 shares of the cell phone carrier’s stock worth $351,000 after buying an additional 292 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Verizon Communications by 3.0% during the second quarter. KLP Kapitalforvaltning AS now owns 2,037,024 shares of the cell phone carrier’s stock valued at $88,142,000 after buying an additional 60,000 shares during the period. RMG Wealth Management LLC bought a new stake in shares of Verizon Communications in the second quarter valued at about $30,000. Finally, Foresight Capital Management Advisors Inc. lifted its stake in Verizon Communications by 7.7% in the second quarter. Foresight Capital Management Advisors Inc. now owns 66,767 shares of the cell phone carrier’s stock worth $2,889,000 after acquiring an additional 4,776 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $41.49 on Tuesday. The company has a 50 day moving average price of $43.63 and a 200 day moving average price of $43.33. The firm has a market capitalization of $174.94 billion, a P/E ratio of 9.67, a PEG ratio of 3.37 and a beta of 0.37. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. 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 business posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.69 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a yield of 6.7%. Verizon Communications’s dividend payout ratio (DPR) is 64.34%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research reports. Scotiabank raised their target price on shares of Verizon Communications from $50.00 to $50.50 and gave the company a “sector perform” rating in a research report on Monday. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. 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 report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price objective on the stock. Finally, Wells Fargo & Company increased 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 report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.63.

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).