RoundAngle Advisors LLC Purchases 1,150 Shares of Verizon Communications Inc. $VZ

RoundAngle Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,515 shares of the cell phone carrier’s stock after acquiring an additional 1,150 shares during the period. RoundAngle Advisors LLC’s holdings in Verizon Communications were worth $1,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC grew its position in Verizon Communications by 121.8% in the 1st quarter. Kestra Investment Management LLC now owns 176,531 shares of the cell phone carrier’s stock valued at $8,007,000 after purchasing an additional 96,931 shares during the period. Element Capital Management LLC acquired a new position in Verizon Communications during the first quarter worth $2,799,000. Autumn Glory Partners LLC lifted its stake in shares of Verizon Communications by 25.8% in the first quarter. Autumn Glory Partners LLC now owns 62,277 shares of the cell phone carrier’s stock valued at $2,825,000 after buying an additional 12,760 shares in the last quarter. Davidson Trust Co. grew its holdings in shares of Verizon Communications by 95.5% during the first quarter. Davidson Trust Co. now owns 26,785 shares of the cell phone carrier’s stock valued at $1,215,000 after buying an additional 13,082 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Verizon Communications by 68.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 6,897 shares of the cell phone carrier’s stock worth $313,000 after acquiring an additional 2,802 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VZ. The Goldman Sachs Group assumed coverage on Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price target for the company. Arete Research raised Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Bank of America increased their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada increased their target price 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. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Trading Down 2.4%

Shares of Verizon Communications stock opened at $39.86 on Monday. The firm has a market cap of $168.05 billion, a PE ratio of 9.29, a P/E/G ratio of 3.00 and a beta of 0.37. Verizon Communications Inc. has a 1 year low of $37.58 and a 1 year high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The stock has a fifty day moving average price of $43.48 and a 200-day moving average price of $43.24.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The company had revenue of $34.50 billion during 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%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.69 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.9%. Verizon Communications’s payout ratio is presently 64.34%.

Verizon Communications 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).