Verizon Communications Inc. $VZ Shares Bought by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC boosted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 14.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,152 shares of the cell phone carrier’s stock after buying an additional 659 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Verizon Communications were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bernard Wealth Management Corp. lifted its holdings in shares of Verizon Communications by 81.0% in 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 purchased a new position in shares of Verizon Communications during the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC lifted its stake in shares of 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 buying an additional 244 shares during the period. Garde Capital Inc. purchased a new position in shares of Verizon Communications during the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of Verizon Communications during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Bank of America upped their price objective 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. Wall Street Zen downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. 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. Royal Bank Of Canada upped 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. Finally, Wells Fargo & Company upped their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $47.53.

Verizon Communications Price Performance

VZ opened at $43.84 on Thursday. The company has a fifty day simple moving average of $43.63 and a 200 day simple moving average of $43.36. The firm 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. 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.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Equities research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. 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 (DPR) is 63.17%.

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).