Hoese & Co LLP Has $55,000 Holdings in Verizon Communications Inc. $VZ

Hoese & Co LLP increased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 112.5% during the second quarter, Holdings Channel reports. The fund owned 1,275 shares of the cell phone carrier’s stock after acquiring an additional 675 shares during the quarter. Hoese & Co LLP’s holdings in Verizon Communications were worth $55,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VZ. Brighton Jones LLC increased its stake in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after buying an additional 16,704 shares during the period. GAMMA Investing LLC grew its position in Verizon Communications by 14.7% in the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock worth $3,114,000 after acquiring an additional 8,800 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Verizon Communications by 23.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,641,090 shares of the cell phone carrier’s stock worth $74,440,000 after buying an additional 313,457 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in shares of Verizon Communications by 7.2% during the 1st quarter. Johnson Investment Counsel Inc. now owns 92,151 shares of the cell phone carrier’s stock worth $4,180,000 after buying an additional 6,192 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in shares of Verizon Communications by 13.7% during the 1st quarter. Boston Trust Walden Corp now owns 308,894 shares of the cell phone carrier’s stock worth $14,011,000 after buying an additional 37,150 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.5%

Verizon Communications stock opened at $40.56 on Friday. The company’s 50 day simple moving average is $43.23 and its 200 day simple moving average is $43.10. 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 market capitalization of $170.99 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 3.04 and a beta of 0.37. 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 (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the firm earned $1.15 EPS. Verizon Communications’s quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side 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. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.8%. Verizon Communications’s payout ratio is presently 64.34%.

Analyst Upgrades and Downgrades

VZ has been the subject of several research analyst reports. Bank of America upped their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research note 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. Morgan Stanley increased their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 22nd. Scotiabank raised their price objective 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, October 6th. Finally, Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Three 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, Verizon Communications 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).