Tyche Wealth Partners LLC Sells 1,151 Shares of Verizon Communications Inc. $VZ

Tyche Wealth Partners LLC lowered its stake in Verizon Communications Inc. (NYSE:VZ) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,630 shares of the cell phone carrier’s stock after selling 1,151 shares during the period. Tyche Wealth Partners LLC’s holdings in Verizon Communications were worth $763,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. KLP Kapitalforvaltning AS grew its position in Verizon Communications by 3.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,037,024 shares of the cell phone carrier’s stock worth $88,142,000 after acquiring an additional 60,000 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Verizon Communications during the second quarter valued at approximately $30,000. Foresight Capital Management Advisors Inc. boosted its stake in shares of Verizon Communications by 7.7% during the second quarter. Foresight Capital Management Advisors Inc. now owns 66,767 shares of the cell phone carrier’s stock valued at $2,889,000 after purchasing an additional 4,776 shares during the period. Clark & Stuart Inc grew its holdings in shares of Verizon Communications by 6.4% in the second quarter. Clark & Stuart Inc now owns 5,225 shares of the cell phone carrier’s stock worth $226,000 after purchasing an additional 314 shares during the last quarter. Finally, Roberts Wealth Advisors LLC increased its stake in shares of Verizon Communications by 2.6% in the second quarter. Roberts Wealth Advisors LLC now owns 64,626 shares of the cell phone carrier’s stock worth $2,796,000 after buying an additional 1,631 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VZ shares. Arete Research upgraded shares of Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Royal Bank Of Canada raised their target price on Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Verizon Communications Trading Down 5.0%

Shares of VZ opened at $41.49 on Tuesday. The firm’s 50-day moving average price is $43.63 and its 200-day moving average price is $43.33. The firm has a market capitalization of $174.94 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 3.37 and a beta of 0.37. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35.

Verizon Communications (NYSE:VZ) last released its quarterly 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 company had revenue of $34.50 billion during the quarter, compared to the consensus estimate of $33.47 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. Verizon Communications’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. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The company also recently announced 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.7%. 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 64.34%.

Verizon Communications Company 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).