Verizon Communications Inc. $VZ Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,182 shares of the cell phone carrier’s stock after buying an additional 579 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Verizon Communications were worth $3,859,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. raised its stake in shares of Verizon Communications by 81.0% in the 1st 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. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at about $26,000. Cherry Tree Wealth Management LLC raised its stake in shares of Verizon Communications by 71.8% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at about $25,000. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada boosted 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 report on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley boosted 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 report 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.65.

Verizon Communications Stock Down 0.3%

VZ stock opened at $43.76 on Wednesday. Verizon Communications Inc. has a 12 month low of $37.58 and a 12 month high of $47.35. The firm has a market cap of $184.51 billion, a PE ratio of 10.20, a P/E/G ratio of 3.38 and a beta of 0.36. The firm has a 50 day simple moving average of $43.25 and a 200 day simple moving average of $43.39. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating 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 business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The business’s quarterly 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. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 earnings per share 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 given a $0.69 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a dividend yield of 6.3%. Verizon Communications’s payout ratio is currently 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).