MBA Advisors LLC Has $907,000 Stock Position in Verizon Communications Inc. $VZ

MBA Advisors LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,950 shares of the cell phone carrier’s stock after purchasing an additional 285 shares during the quarter. MBA Advisors LLC’s holdings in Verizon Communications were worth $907,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Chicago Capital LLC increased its stake in shares of Verizon Communications by 6.9% during the 2nd quarter. Chicago Capital LLC now owns 31,959 shares of the cell phone carrier’s stock worth $1,383,000 after purchasing an additional 2,054 shares during the last quarter. Trivium Point Advisory LLC increased its stake in shares of Verizon Communications by 31.9% during the 2nd quarter. Trivium Point Advisory LLC now owns 50,762 shares of the cell phone carrier’s stock worth $2,196,000 after purchasing an additional 12,285 shares during the last quarter. Emerald Advisors LLC increased its stake in shares of Verizon Communications by 11.2% during the 2nd quarter. Emerald Advisors LLC now owns 23,106 shares of the cell phone carrier’s stock worth $1,000,000 after purchasing an additional 2,326 shares during the last quarter. Mainsail Financial Group LLC increased its stake in shares of Verizon Communications by 1.4% during the 2nd quarter. Mainsail Financial Group LLC now owns 24,184 shares of the cell phone carrier’s stock worth $998,000 after purchasing an additional 324 shares during the last quarter. Finally, XML Financial LLC increased its stake in shares of Verizon Communications by 3.9% during the 2nd quarter. XML Financial LLC now owns 169,405 shares of the cell phone carrier’s stock worth $7,330,000 after purchasing an additional 6,411 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price target on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $47.53.

Verizon Communications Stock Down 0.9%

Verizon Communications stock opened at $43.23 on Tuesday. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The company has a 50 day moving average of $43.59 and a 200-day moving average of $43.35. The stock has a market capitalization of $182.27 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last announced its earnings results 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 business had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The firm’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. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a yield of 6.4%. 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).