QRG Capital Management Inc. increased its position in Verizon Communications Inc. (NYSE:VZ – Free Report) by 26.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793,626 shares of the cell phone carrier’s stock after purchasing an additional 166,361 shares during the period. QRG Capital Management Inc.’s holdings in Verizon Communications were worth $39,840,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of VZ. TCI Wealth Advisors Inc. increased its stake in Verizon Communications by 2.6% during the 1st quarter. TCI Wealth Advisors Inc. now owns 23,760 shares of the cell phone carrier’s stock valued at $1,193,000 after purchasing an additional 602 shares in the last quarter. Capital Financial Group Inc. Co. ADV lifted its stake in shares of Verizon Communications by 1.3% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 37,573 shares of the cell phone carrier’s stock worth $1,886,000 after buying an additional 490 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of Verizon Communications by 10.3% in the first quarter. HB Wealth Management LLC now owns 208,337 shares of the cell phone carrier’s stock worth $10,459,000 after buying an additional 19,392 shares in the last quarter. Plimoth Trust Co. LLC grew its holdings in shares of Verizon Communications by 5.3% during the first quarter. Plimoth Trust Co. LLC now owns 60,676 shares of the cell phone carrier’s stock valued at $3,046,000 after buying an additional 3,048 shares during the last quarter. Finally, Osborne Partners Capital Management LLC purchased a new stake in shares of Verizon Communications during the first quarter valued at approximately $215,000. 62.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
VZ has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Oppenheimer increased their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Citigroup upped their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $50.59.
Verizon Communications Stock Performance
Shares of VZ stock opened at $42.57 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The company has a 50 day moving average price of $46.56 and a 200-day moving average price of $45.91. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The firm has a market capitalization of $177.77 billion, a PE ratio of 10.38, a P/E/G ratio of 1.04 and a beta of 0.26.
Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. 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 expect that Verizon Communications Inc. will post 4.98 earnings per share for the current year.
Verizon Communications Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.6%. Verizon Communications’s payout ratio is currently 69.02%.
Key Stories Impacting Verizon Communications
Here are the key news stories impacting Verizon Communications this week:
- Positive Sentiment: Analysts and market commentary continue to frame Verizon as an attractive value stock, with Zacks citing favorable style-score characteristics that may appeal to value-focused investors. Here’s Why Verizon Communications (VZ) is a Strong Value Stock
- Positive Sentiment: Verizon’s dividend profile is still a key support for the shares, with comparisons to AT&T emphasizing Verizon’s long record of dividend increases and its appeal to income investors. Better High-Yield Dividend Stock: Verizon or AT&T?
- Positive Sentiment: Verizon and BT Group announced a $4 billion international enterprise joint venture, which could expand Verizon’s global business services reach and improve growth prospects. Is Verizon Communications Inc. (VZ) Stock Positioned for Growth After $4B International Enterprise Partnership?
- Neutral Sentiment: Verizon is getting more trading attention from retail investors, which may reflect renewed interest but does not by itself change the company’s fundamentals. Verizon Communications Inc. (VZ) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: Wall Street expects Verizon’s upcoming quarterly earnings to show modest profit growth, making the next report an important catalyst but not a clear surprise yet. What to Expect From Verizon Communications’ Next Quarterly Earnings Report
- Negative Sentiment: Coverage about Starlink’s push into mobile service raises longer-term competitive pressure on Verizon and other wireless carriers, even though major infrastructure hurdles remain. Starlink Dominates Internet From Space. Can It Disrupt AT&T and Verizon on the Ground?
Verizon Communications Profile
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.
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