Measured Risk Portfolios Inc. Sells 2,139 Shares of Verizon Communications Inc. $VZ

Measured Risk Portfolios Inc. cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,019 shares of the cell phone carrier’s stock after selling 2,139 shares during the period. Verizon Communications comprises approximately 2.3% of Measured Risk Portfolios Inc.’s holdings, making the stock its 13th largest holding. Measured Risk Portfolios Inc.’s holdings in Verizon Communications were worth $2,337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orca Wealth Management LLC raised its holdings in shares of Verizon Communications by 1.0% in the 2nd quarter. Orca Wealth Management LLC now owns 31,052 shares of the cell phone carrier’s stock valued at $1,344,000 after purchasing an additional 304 shares during the period. Beacon Financial Advisory LLC raised its holdings in shares of Verizon Communications by 10.5% in the 2nd quarter. Beacon Financial Advisory LLC now owns 28,417 shares of the cell phone carrier’s stock valued at $1,230,000 after purchasing an additional 2,709 shares during the period. Iron Horse Wealth Management LLC raised its holdings in shares of Verizon Communications by 57.6% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 3,011 shares of the cell phone carrier’s stock valued at $130,000 after purchasing an additional 1,100 shares during the period. Simplicity Wealth LLC raised its holdings in shares of Verizon Communications by 158.6% in the 2nd quarter. Simplicity Wealth LLC now owns 95,631 shares of the cell phone carrier’s stock valued at $4,138,000 after purchasing an additional 58,656 shares during the period. Finally, Brown Miller Wealth Management LLC raised its holdings in shares of Verizon Communications by 3.4% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 23,188 shares of the cell phone carrier’s stock valued at $1,003,000 after purchasing an additional 758 shares during the period. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VZ. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Verizon Communications in a report on Saturday, September 27th. Royal Bank Of Canada upped 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. Morgan Stanley upped their target price on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, Bank of America upped their price target 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. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Stock Up 0.6%

Shares of VZ opened at $43.68 on Friday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The firm has a market cap of $184.17 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 3.37 and a beta of 0.37. The firm’s 50-day simple moving average is $43.65 and its 200 day simple moving average is $43.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s 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. On average, analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is currently 63.17%.

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).