Optas LLC Trims Holdings in Verizon Communications Inc. $VZ

Optas LLC cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 51.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,642 shares of the cell phone carrier’s stock after selling 15,562 shares during the quarter. Optas LLC’s holdings in Verizon Communications were worth $634,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in VZ. Brighton Jones LLC lifted its stake in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the last quarter. GAMMA Investing LLC increased its position in Verizon Communications by 14.7% in the first quarter. GAMMA Investing LLC now owns 68,641 shares of the cell phone carrier’s stock worth $3,114,000 after buying an additional 8,800 shares during the period. Simplicity Wealth LLC acquired a new stake in Verizon Communications in the first quarter worth $1,677,000. Parsons Capital Management Inc. RI increased its position in Verizon Communications by 2.5% in the first quarter. Parsons Capital Management Inc. RI now owns 38,048 shares of the cell phone carrier’s stock worth $1,726,000 after buying an additional 938 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its position in Verizon Communications by 272.0% in the first quarter. Redhawk Wealth Advisors Inc. now owns 23,446 shares of the cell phone carrier’s stock worth $1,064,000 after buying an additional 17,143 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on VZ shares. Wall Street Zen lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Bank of America raised their price target on Verizon Communications from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Morgan Stanley raised their price target on Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.63.

Verizon Communications Price Performance

NYSE:VZ opened at $41.35 on Thursday. The business’s 50-day moving average price is $43.58 and its 200 day moving average price is $43.30. The firm has a market cap of $174.35 billion, a P/E ratio of 9.64, a PEG ratio of 3.20 and a beta of 0.37. Verizon Communications Inc. has a 52-week low of $37.58 and a 52-week high of $47.35. 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) last released its earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.Verizon Communications’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 yield of 6.7%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio (DPR) is 63.17%.

Verizon Communications 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).