First Horizon Corp Purchases 81,394 Shares of Verizon Communications Inc. $VZ

First Horizon Corp increased its position in Verizon Communications Inc. (NYSE:VZ) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 527,633 shares of the cell phone carrier’s stock after purchasing an additional 81,394 shares during the quarter. Verizon Communications makes up about 1.1% of First Horizon Corp’s investment portfolio, making the stock its 22nd largest holding. First Horizon Corp’s holdings in Verizon Communications were worth $26,487,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in VZ. Lam Group Inc. purchased a new position in Verizon Communications during the first quarter valued at $28,000. Strengthening Families & Communities LLC grew its position in shares of Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Verizon Communications in the 4th quarter worth about $28,000. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications in the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Citigroup boosted their price target on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Barclays lowered their price objective on Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and an average target price of $50.28.

More Verizon Communications News

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

• Positive Sentiment: Verizon announced a new U.S. connectivity role for BMW Group vehicles through its KDDI partnership, expanding its automotive IoT and connected-vehicle business and potentially adding high-margin enterprise revenue. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Goldman Sachs winning a mandate to manage $40 billion in Verizon retirement assets signals continued confidence in Verizon as a major corporate client and does not suggest any immediate operating weakness. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Analysts highlighted Verizon’s strong earnings-beat track record and said it has the ingredients for another earnings surprise, which could support the stock if upcoming results are solid. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Wells Fargo and Barclays both maintained cautious “equal weight” views on Verizon, with Barclays trimming its price target, reflecting limited near-term upside even though targets remain above the current share price. Verizon Communications had its price target lowered by Barclays PLC
• Negative Sentiment: Multiple reports warned that SpaceX’s Starlink is intensifying competitive pressure on major U.S. telecom carriers, including Verizon, which could weigh on wireless and fixed wireless growth expectations. SpaceX’s Starlink Puts Verizon, AT&T, and T-Mobile Under the Microscope

Verizon Communications Stock Performance

VZ stock opened at $42.19 on Friday. The stock has a market capitalization of $176.16 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.26. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The stock’s 50 day simple moving average is $46.19 and its 200 day simple moving average is $46.00.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.7075 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.7%. Verizon Communications’s dividend payout ratio is 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.