Geneos Wealth Management Inc. grew its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 153,514 shares of the cell phone carrier’s stock after purchasing an additional 14,106 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Verizon Communications were worth $7,706,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Avanza Fonder AB raised its position 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 worth $13,521,000 after purchasing an additional 17,495 shares in the last quarter. Econ Financial Services Corp boosted its holdings in Verizon Communications by 23.5% during the fourth 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 in the last quarter. USS Investment Management Ltd grew its stake in shares of Verizon Communications by 4.6% in 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 grew its stake in shares of Verizon Communications by 41.0% in 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 period. Finally, Clarity Financial LLC raised its holdings in shares of Verizon Communications by 697.0% in the 4th quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock worth $19,189,000 after buying an additional 412,018 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on VZ. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Citigroup increased their price objective on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Wells Fargo & Company started coverage on Verizon Communications in a report on Wednesday, July 8th. They set an “equal weight” rating and a $43.00 price objective for the company. Dbs Bank downgraded shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.09.
Verizon Communications Trading Up 2.4%
Shares of VZ opened at $43.84 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The company has a market cap of $183.08 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 1.05 and a beta of 0.26. The stock has a fifty day moving average price of $45.74 and a two-hundred day moving average price of $46.09. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68.
Verizon Communications (NYSE:VZ – Get Free Report) last announced 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 for the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts predict that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.5%. Verizon Communications’s dividend payout ratio is currently 69.02%.
Verizon Communications News Summary
Here are the key news stories impacting Verizon Communications this week:
- Positive Sentiment: Verizon’s store divestitures and layoffs could lower operating costs and support margins as the company restructures its retail footprint. VZ Stock Rises — Verizon Moves To Slash Costs With Major Store Shakeup
- Positive Sentiment: KeyCorp raised multiple earnings estimates for Verizon, including FY2027 EPS to $5.40, suggesting analysts see improving profitability ahead.
- Positive Sentiment: Verizon is also benefiting from signs of operational strength, including strong wireless network quality rankings and a new BMW connected-car partnership that could expand 5G and IoT revenue opportunities. Wireless Network Quality Returns to Record High, JD Power Finds
- Neutral Sentiment: Scotiabank lowered its price target to $51.50 from $54.50 but kept a “sector outperform” rating, so the note was cautious but not bearish.
- Negative Sentiment: The restructuring includes significant layoffs and store sales, which can signal pressure on the core business and create near-term disruption for employees and operations. Verizon to shed 274 stores, lay off another 500 corporate employees
Verizon Communications Company 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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