Teamwork Financial Advisors LLC Cuts Stake in Verizon Communications Inc. $VZ

Teamwork Financial Advisors LLC decreased its position in Verizon Communications Inc. (NYSE:VZ) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,782 shares of the cell phone carrier’s stock after selling 333 shares during the period. Teamwork Financial Advisors LLC’s holdings in Verizon Communications were worth $813,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in VZ. GQG Partners LLC boosted its holdings in Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier’s stock valued at $2,261,648,000 after purchasing an additional 37,516,167 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $661,720,000. Pacer Advisors Inc. boosted its stake in shares of Verizon Communications by 737.5% in the first quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier’s stock valued at $530,576,000 after buying an additional 10,300,369 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Verizon Communications by 301.2% in the first quarter. Acadian Asset Management LLC now owns 8,504,920 shares of the cell phone carrier’s stock valued at $385,750,000 after buying an additional 6,385,197 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Verizon Communications by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier’s stock worth $1,434,572,000 after acquiring an additional 5,392,416 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $43.99 on Friday. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The stock has a market cap of $185.48 billion, a P/E ratio of 10.25, a PEG ratio of 3.40 and a beta of 0.36. 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 company has a 50-day moving average of $43.22 and a two-hundred day moving average of $43.38.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share 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 business had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same period last year, the company posted $1.15 EPS. The company’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. As a group, research analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current fiscal 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 issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 63.17%.

Analyst Ratings Changes

VZ has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 22nd. Bank of America upped their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Morgan Stanley increased 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, JPMorgan Chase & Co. boosted their price target on Verizon Communications from $47.00 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, seven have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.65.

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).