Powell Investment Advisors LLC recently made a significant entry into the Verizon stock market, acquiring a new stake in the telecom sector giant. This institutional investment saw them purchase 4,627 VZ shares, valued at approximately $210,000, as reported by Holdings Channel.com during the first quarter. This move underscores a growing interest among major financial entities in Verizon’s market position.
Beyond Powell, a flurry of activity has been observed among other hedge funds and institutional investors modifying their holdings in Verizon. Bernard Wealth Management Corp. notably increased its position by 81.0% in the first quarter, now holding 543 VZ shares worth $25,000. Similarly, Cherry Tree Wealth Management LLC boosted its stake by 71.8%, accumulating 584 VZ shares valued at $26,000, signaling broader confidence in the company’s prospects through intensified stock market analysis.
Garde Capital Inc. also initiated a new position in Verizon during the first quarter, with holdings valued around $26,000. Mattson Financial Services LLC further amplified its stake by 114.6% in the fourth quarter, bringing its ownership to 777 VZ shares valued at $31,000. Capital A Wealth Management LLC rounded out these significant transactions by acquiring a new stake in the same period, worth about $32,000, contributing to the substantial 62.06% of the company’s Verizon stock now owned by hedge funds and other institutional investors.
In a separate but notable development, Verizon’s CEO executed a significant sale of 9,000 VZ shares on May 7th. This transaction, occurring at an average price of $44.10 per share, amounted to a total of $396,900.00. Following this sale, the chief executive officer’s direct ownership decreased by 47.35%, now standing at 10,008 Verizon stock shares, valued at $441,352.80, as disclosed in SEC filings.
On Friday, Verizon stock opened at $42.84, reflecting recent market dynamics. The company maintains a quick ratio of 0.60, a current ratio of 0.64, and a debt-to-equity ratio of 1.19, indicators often scrutinized in comprehensive stock market analysis. Its 50-day moving average price stands at $42.75, with a 200-day average of $42.69, suggesting a relatively stable trading pattern. Over the last twelve months, VZ shares have traded between a low of $37.58 and a high of $47.35, amidst a substantial market capitalization of $180.63 billion.
Verizon Communications recently announced its quarterly earnings on July 21st, surpassing analyst expectations. The telecom sector leader reported earnings per share of $1.22, beating the consensus estimate of $1.19 by $0.03. The company also demonstrated strong financial performance with a net margin of 13.28% and a robust return on equity of 19.61%. Revenue for the quarter reached $34.50 billion, exceeding analysts’ projections of $33.47 billion and marking a 5.2% year-over-year increase, reflecting solid operational growth for Verizon stock.
Adding to its financial appeal, Verizon Communications recently disclosed a quarterly dividend, which was distributed on August 1st. Shareholders on record by July 10th received a dividend payout of $0.6775 per share, equating to an annualized dividend of $2.71 and yielding 6.3%. This consistent dividend payout strategy, with a payout ratio currently at 63.17%, highlights Verizon’s commitment to returning value to its VZ shares holders.
Verizon Communications Inc. operates globally through its subsidiaries, delivering a wide array of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. The company’s operations are primarily segmented into the Verizon Consumer Group (Consumer) and Verizon Business Group (Business), showcasing its diversified approach within the competitive telecom sector and reinforcing its position as a key player in the institutional investment landscape.
