Addison Capital Co Reduces Holdings in Verizon Communications Inc. $VZ

by · The Markets Daily

Addison Capital Co lowered its stake in Verizon Communications Inc. (NYSE:VZ – Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,527 shares of the cell phone carrier’s stock after selling 580 shares during the quarter. Addison Capital Co’s holdings in Verizon Communications were worth $296,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. lifted its position 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 acquiring an additional 243 shares in the last quarter. Cherry Tree Wealth Management LLC increased its position in Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new position in Verizon Communications in the 1st quarter valued at about $26,000. 1 North Wealth Services LLC purchased a new position in Verizon Communications in the 1st quarter valued at about $29,000. Finally, Accent Capital Management LLC purchased a new position in Verizon Communications in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

VZ has been the topic of several analyst reports. Arete Research raised shares of Verizon Communications to a “strong-buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Royal Bank Of Canada boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a report on Tuesday, July 22nd. Morgan Stanley increased their price target on Verizon Communications from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a 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 given a Hold rating to the stock. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $47.65.

Check Out Our Latest Report on Verizon Communications

Verizon Communications Stock Performance

Shares of VZ stock opened at $43.50 on Thursday. Verizon Communications Inc. has a one year low of $37.58 and a one year high of $47.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The company has a 50 day moving average price of $43.20 and a 200 day moving average price of $43.37. The firm has a market capitalization of $183.40 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 3.36 and a beta of 0.36.

Verizon Communications (NYSE:VZ – Get Free Report) last announced 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. 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 for the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the business earned $1.15 EPS. Verizon Communications’s revenue for the quarter 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. Investors of record on Friday, October 10th will be issued a $0.69 dividend. The ex-dividend date is Friday, October 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 dividend on an annualized basis and a yield of 6.3%. Verizon Communications’s payout ratio is 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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