Curbstone Financial Management Corp Has $1.48 Million Stake in Verizon Communications Inc. $VZ

Curbstone Financial Management Corp trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,108 shares of the cell phone carrier’s stock after selling 2,276 shares during the period. Curbstone Financial Management Corp’s holdings in Verizon Communications were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VZ. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the second quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC raised its position in shares of Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $26,000. 1 North Wealth Services LLC acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $29,000. Finally, Accent Capital Management LLC acquired a new position in Verizon Communications during the first quarter valued at approximately $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $40.56 on Friday. 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 Inc. has a twelve month low of $37.58 and a twelve month high of $47.35. The stock has a market cap of $170.99 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 3.04 and a beta of 0.37. The company’s fifty day moving average is $43.23 and its 200 day moving average is $43.10.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping 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 company had revenue of $34.50 billion for the quarter, compared to analysts’ expectations of $33.47 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. 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 forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed 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. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.68. This represents a $2.76 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, October 10th. Verizon Communications’s payout ratio is presently 64.34%.

Analyst Upgrades and Downgrades

Several research analysts have commented on VZ shares. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective for the company. 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. 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. 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. Finally, Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $42.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.63.

About Verizon Communications

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).