Holdings of Verizon Communications Inc. (NYSE:VZ) were raised by Commerzbank Aktiengesellschaft FI

VaselineAugust 21, 2024

0 3 minutes read

Holdings of Verizon Communications Inc. (NYSE:VZ) were raised by Commerzbank Aktiengesellschaft FI

Verizon Communications logo Commerzbank Aktiengesellschaft FI increased its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 66.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,376 shares of the cell phone carrier’s stock after purchasing an additional 67,072 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Verizon Communications were worth $6,903,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Verizon Communications by 3.0% in the fourth quarter. International Assets Investment Management LLC now owns 105,433 shares of the cell phone carrier’s stock worth $3,975,000 after purchasing an additional 3,054 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Verizon Communications in the fourth quarter valued at $59,000. Beaumont Financial Advisors LLC purchased a new stake in shares of Verizon Communications in the fourth quarter valued at $222,000. Resonant Capital Advisors LLC grew its position in Verizon Communications by 16.6% during the fourth quarter. Resonant Capital Advisors LLC now owns 10,615 shares of the cell phone carrier’s stock valued at $400,000 after buying an additional 1,512 shares during the period. Finally, Institute for Wealth Management LLC. boosted its position in Verizon Communications by 5.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 25,460 shares of the cell phone carrier’s stock worth $960,000 after acquiring an additional 1,239 shares during the period. 62.06% of the shares are owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE:VZ opened at $40.84 on Wednesday. The company’s 50-day moving average is $40.64 and its 200-day moving average is $40.43. The company has a market cap of $171.91 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 3.72 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60, and a current ratio of 0.63. Verizon Communications Inc. it has a 52-week low of $30.14 and a 52-week high of $43.42.

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Verizon Communications (NYSE:VZ – Get Your Free Report ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. Verizon Communications’ revenue for the quarter was up 0.6% compared to the same quarter last year. In the same quarter last year, the firm earned $1.21 EPS. Equities research analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a dividend of $2.66 on an annualized basis and a dividend yield of 6.51%. Verizon Communications’ payout ratio is currently 99.25%.

Analyst upgrades and downgrades

VZ has been the subject of several research reports. TD Cowen boosted their target price on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company cut their price target on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Tigress Financial raised their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Goldman Sachs Group began coverage on shares of Verizon Communications in a research note on Monday, July 1st. They set a “buy” rating and a $50.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.78.

Get the latest report on VZ

Verizon Communications Company Profile

(Free report)

Verizon Communications Inc, through its subsidiaries, is engaged in providing communications, technology, information and entertainment products and services to consumers, businesses and government entities around the world. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).