Illinois Municipal Retirement Fund lowered its stake in Verizon Communications Inc. (NYSE:VZ – Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 920,341 shares of the cell phone carrier’s stock after selling 57,557 shares during the quarter. Verizon Communications accounts for 0.6% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 20th largest position. Illinois Municipal Retirement Fund’s holdings in Verizon Communications were worth $46,201,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Avanza Fonder AB lifted its holdings in Verizon Communications by 5.6% in the fourth quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier’s stock valued at $13,521,000 after acquiring an additional 17,495 shares during the period. Econ Financial Services Corp grew its stake in shares of Verizon Communications by 23.5% during the 4th quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier’s stock valued at $3,184,000 after purchasing an additional 14,862 shares during the period. USS Investment Management Ltd grew its stake in shares of Verizon Communications by 4.6% during the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock valued at $35,790,000 after purchasing an additional 31,354 shares during the period. Teacher Retirement System of Texas increased its position in shares of Verizon Communications by 41.0% during the 4th quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier’s stock valued at $89,499,000 after purchasing an additional 639,380 shares during the last quarter. Finally, Clarity Financial LLC increased its position in shares of Verizon Communications by 697.0% during the 4th quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock valued at $19,189,000 after purchasing an additional 412,018 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.
Analyst Upgrades and Downgrades
VZ has been the topic of a number of research reports. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Scotiabank reduced their target price on shares of Verizon Communications from $54.50 to $51.50 and set a “sector outperform” rating for the company in a report on Wednesday. Barclays decreased their price target on shares of Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of 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 boosted their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $50.09.
More Verizon Communications News
Here are the key news stories impacting Verizon Communications this week:
- Positive Sentiment: KeyCorp raised several of its Verizon earnings estimates for 2026 and 2027, including FY2027 EPS to $5.40 from $5.31, suggesting improved profit expectations for the wireless carrier.
- Positive Sentiment: Verizon is drawing attention as a dividend stock, with multiple articles highlighting its nearly 7% yield and positioning it as a potential income play for investors seeking steady cash flow.
- Positive Sentiment: Verizon is expanding into connected-car services through a BMW and KDDI partnership, which could support longer-term growth in 5G and IoT-related revenue. BMW (XTRA:BMW) Launches U.S. Connected Car Service With Verizon And KDDI
- Neutral Sentiment: Analysts and media coverage continue to frame Verizon as a value/income stock, with some pieces arguing the shares may be undervalued relative to earnings power and upcoming results.
- Negative Sentiment: Scotiabank cut Verizon’s price target to $51.50 from $54.50, signaling less upside than before despite keeping an outperform view.
- Negative Sentiment: Investor concern over SpaceX’s Starlink remains a drag on telecom stocks, with several reports noting that competition fears have pressured Verizon and peers.
- Negative Sentiment: Reports that Verizon is preparing another round of layoffs and cost cuts may raise questions about growth and execution, even if the moves are aimed at improving efficiency.
Verizon Communications Stock Up 0.9%
VZ stock opened at $42.83 on Thursday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. 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 stock has a market cap of $178.86 billion, a P/E ratio of 10.45, a PEG ratio of 1.03 and a beta of 0.26. The business’s 50-day moving average price is $45.81 and its 200-day moving average price is $46.07.
Verizon Communications (NYSE:VZ – Get Free Report) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.98 EPS for the current year.
Verizon Communications Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio is presently 69.02%.
About Verizon Communications
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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