Cullen Capital Management LLC Has $51.35 Million Stake in Verizon Communications Inc. $VZ

Cullen Capital Management LLC decreased its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,260,646 shares of the cell phone carrier’s stock after selling 277,377 shares during the quarter. Cullen Capital Management LLC’s holdings in Verizon Communications were worth $51,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in VZ. Strengthening Families & Communities LLC lifted its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC acquired a new position in Verizon Communications in the third quarter valued at about $29,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors raised its position in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

Analyst Ratings Changes

A number of research firms have recently commented on VZ. Morgan Stanley raised their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price target on shares of Verizon Communications in a research report on Thursday, March 12th. Wells Fargo & Company raised their price target on Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Oppenheimer raised their price target on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Get Our Latest Research Report on VZ

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $48.10 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The stock has a 50 day moving average of $47.20 and a 200-day moving average of $45.47. The company has a market capitalization of $200.85 billion, a P/E ratio of 11.73, a P/E/G ratio of 1.15 and a beta of 0.24.

Verizon Communications (NYSE:VZGet Free Report) last issued its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same period in the previous year, the company posted $1.19 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Friday, July 10th. Verizon Communications’s payout ratio is currently 69.02%.

About Verizon Communications

(Free Report)

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

See Also

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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