Loudon Investment Management LLC Cuts Position in Verizon Communications Inc. $VZ

Loudon Investment Management LLC lowered its position in Verizon Communications Inc. (NYSE:VZ) by 32.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,040 shares of the cell phone carrier’s stock after selling 16,612 shares during the quarter. Loudon Investment Management LLC’s holdings in Verizon Communications were worth $1,473,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bernard Wealth Management Corp. increased its holdings 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 valued at $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of Verizon Communications during the 1st quarter worth about $26,000. Cherry Tree Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 244 shares during the last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications during the 2nd quarter worth about $25,000. Finally, 1 North Wealth Services LLC purchased a new stake in Verizon Communications during the first quarter worth approximately $29,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock opened at $43.95 on Wednesday. The stock’s 50-day moving average price is $43.61 and its 200 day moving average price is $43.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $185.31 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. 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 for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.69 dividend. The ex-dividend date 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 6.3%. Verizon Communications’s payout ratio is 63.17%.

Analysts Set New Price Targets

Several equities analysts have commented on VZ shares. Wells Fargo & Company increased their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted 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. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

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).