Robeco Institutional Asset Management B.V. Purchases 1,762,239 Shares of Verizon Communications Inc. $VZ

Robeco Institutional Asset Management B.V. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 44.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,724,313 shares of the cell phone carrier’s stock after buying an additional 1,762,239 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Verizon Communications were worth $247,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. boosted its position in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock valued at $25,000 after purchasing an additional 243 shares in the last quarter. Bulwark Capital Corp bought a new stake in Verizon Communications during the second quarter valued at about $25,000. Cherry Tree Wealth Management LLC boosted its position in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. bought a new stake in Verizon Communications during the first quarter valued at about $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications during the first quarter valued at about $29,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.3%

Shares of NYSE:VZ opened at $43.84 on Thursday. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. The stock has a market cap of $184.82 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 3.39 and a beta of 0.37. 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 business has a 50-day moving average price of $43.63 and a 200-day moving average price of $43.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the business posted $1.15 earnings per share. The company’s revenue for the quarter 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. Equities analysts predict 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. Stockholders of record on Friday, October 10th will be paid a $0.69 dividend. 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 dividend yield of 6.3%. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Wall Street Analyst Weigh In

VZ has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their price objective on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $49.00 price target for the company. Finally, Arete Research upgraded Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average 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).