Brucke Financial Inc. Sells 1,136 Shares of Verizon Communications Inc. $VZ

Brucke Financial Inc. trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,118 shares of the cell phone carrier’s stock after selling 1,136 shares during the period. Brucke Financial Inc.’s holdings in Verizon Communications were worth $438,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Sargent Investment Group LLC grew its position in Verizon Communications by 3.3% in the first quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier’s stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Providence Capital Advisors LLC grew its position in Verizon Communications by 0.3% in the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier’s stock worth $3,637,000 after acquiring an additional 240 shares in the last quarter. Bernard Wealth Management Corp. grew its position 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 acquiring an additional 243 shares in the last quarter. Wright Investors Service Inc. boosted its holdings in shares of Verizon Communications by 1.2% during the 2nd 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. Finally, Cherry Tree Wealth Management LLC boosted its holdings in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 244 shares during the period. 62.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VZ. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.63.

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $39.86 on Friday. 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 fifty-two week low of $37.58 and a fifty-two week high of $47.35. The firm has a fifty day moving average price of $43.48 and a two-hundred day moving average price of $43.26. The company has a market cap of $168.05 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 3.08 and a beta of 0.37.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $1.15 EPS. The business’s revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is currently 63.17%.

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).