Security National Bank of Sioux City Iowa IA Acquires 1,503 Shares of Verizon Communications Inc. $VZ

Security National Bank of Sioux City Iowa IA boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,486 shares of the cell phone carrier’s stock after purchasing an additional 1,503 shares during the quarter. Verizon Communications makes up approximately 1.5% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 19th biggest position. Security National Bank of Sioux City Iowa IA’s holdings in Verizon Communications were worth $2,109,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VZ. SageView Advisory Group LLC boosted its stake in Verizon Communications by 1.0% during the first quarter. SageView Advisory Group LLC now owns 36,315 shares of the cell phone carrier’s stock valued at $1,647,000 after buying an additional 361 shares during the last quarter. SCS Capital Management LLC purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $444,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Verizon Communications by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 41,993,829 shares of the cell phone carrier’s stock valued at $1,904,840,000 after acquiring an additional 3,100,342 shares during the last quarter. Woodline Partners LP grew its position in Verizon Communications by 42.4% in the first quarter. Woodline Partners LP now owns 1,984,204 shares of the cell phone carrier’s stock worth $90,003,000 after acquiring an additional 591,011 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Verizon Communications by 46.7% in the first quarter. Empowered Funds LLC now owns 642,368 shares of the cell phone carrier’s stock worth $29,138,000 after acquiring an additional 204,587 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.5%

NYSE:VZ opened at $43.55 on Wednesday. The company has a market cap of $183.62 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 3.34 and a beta of 0.36. Verizon Communications Inc. has a twelve month low of $37.58 and a twelve 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. The stock has a fifty day simple moving average of $43.20 and a 200-day simple moving average of $43.37.

Verizon Communications (NYSE:VZ) last posted its quarterly 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 company had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last year, the firm posted $1.15 EPS. The firm’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. Analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 63.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VZ shares. Royal Bank Of Canada upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. Finally, Bank of America increased their target price 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 investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.65.

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).