Heartwood Wealth Advisors LLC Has $1.18 Million Stock Holdings in Verizon Communications Inc. $VZ

by · The Markets Daily

Heartwood Wealth Advisors LLC boosted its position in Verizon Communications Inc. (NYSE:VZ – Free Report) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,151 shares of the cell phone carrier’s stock after acquiring an additional 673 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Verizon Communications were worth $1,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VZ. Bernard Wealth Management Corp. raised its holdings in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier’s stock worth $25,000 after buying an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC raised its stake in 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 worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications in the first quarter worth about $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $29,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $30,000. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VZ shares. Royal Bank Of Canada upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Bank of America raised their price objective on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Wall Street Zen raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Morgan Stanley increased their target price on 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 research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.65.

Get Our Latest Analysis on Verizon Communications

Verizon Communications Stock Down 0.3%

Shares of NYSE:VZ opened at $43.99 on Monday. The firm has a market cap of $185.48 billion, a P/E ratio of 10.25, a P/E/G ratio of 3.39 and a beta of 0.36. Verizon Communications Inc. has a 12-month low of $37.58 and a 12-month high of $47.35. The business has a fifty day simple moving average of $43.22 and a 200 day simple moving average of $43.38. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter in the prior year, the firm posted $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. Analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.3%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s payout ratio is currently 63.17%.

Verizon Communications Profile

(Free Report)

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).

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