Hayek Kallen Investment Management Buys 4,462 Shares of Verizon Communications Inc. $VZ

Hayek Kallen Investment Management grew its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 4.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 107,811 shares of the cell phone carrier’s stock after purchasing an additional 4,462 shares during the period. Verizon Communications comprises approximately 1.8% of Hayek Kallen Investment Management’s portfolio, making the stock its 16th biggest position. Hayek Kallen Investment Management’s holdings in Verizon Communications were worth $4,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. increased its stake in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. purchased a new stake in Verizon Communications in the 1st quarter valued at about $26,000. Cherry Tree Wealth Management LLC increased its stake in Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares during the last quarter. Accent Capital Management LLC purchased a new stake in Verizon Communications in the 1st quarter valued at about $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in Verizon Communications in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Up 0.7%

VZ opened at $44.24 on Friday. The company has a 50 day moving average of $43.03 and a 200 day moving average of $43.24. The company has a market cap of $186.53 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 3.39 and a beta of 0.36. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS 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 company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period last year, the firm earned $1.15 EPS. Verizon Communications’s revenue for the quarter was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.6775 dividend. This represents a $2.71 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.17%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company raised their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Three investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.35.

Verizon Communications Company 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).