Verizon Communications Inc. $VZ is Heathbridge Capital Management Ltd.’s 3rd Largest Position

Heathbridge Capital Management Ltd. lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 478,600 shares of the cell phone carrier’s stock after selling 6,100 shares during the quarter. Verizon Communications accounts for 8.3% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 3rd biggest holding. Heathbridge Capital Management Ltd.’s holdings in Verizon Communications were worth $20,709,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VZ. Brighton Jones LLC boosted its holdings in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Verizon Communications by 5.0% during the 1st quarter. First Citizens Bank & Trust Co. now owns 33,827 shares of the cell phone carrier’s stock valued at $1,534,000 after acquiring an additional 1,624 shares during the period. NewSquare Capital LLC boosted its holdings in Verizon Communications by 92.5% during the 1st quarter. NewSquare Capital LLC now owns 3,790 shares of the cell phone carrier’s stock valued at $172,000 after acquiring an additional 1,821 shares during the period. Farther Finance Advisors LLC boosted its holdings in Verizon Communications by 37.2% during the 1st quarter. Farther Finance Advisors LLC now owns 79,163 shares of the cell phone carrier’s stock valued at $3,592,000 after acquiring an additional 21,469 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of Verizon Communications by 1.9% in the 1st quarter. Yousif Capital Management LLC now owns 651,685 shares of the cell phone carrier’s stock worth $29,560,000 after buying an additional 11,875 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VZ shares. Morgan Stanley upped their target price on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Scotiabank upped their target price on Verizon Communications from $50.00 to $50.50 and gave the stock a “sector perform” rating in a report on Monday. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a report on Friday, September 26th. Three equities research 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 stock. According to MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.63.

Verizon Communications Trading Down 0.0%

VZ opened at $41.44 on Wednesday. The firm has a market cap of $174.70 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 3.20 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 12 month low of $37.58 and a 12 month high of $47.35. The stock has a fifty day moving average price of $43.60 and a 200-day moving average price of $43.32.

Verizon Communications (NYSE:VZ) last released 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. The firm had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share 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 given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is presently 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).