Sequoia Financial Advisors LLC Buys 17,086 Shares of Verizon Communications Inc. $VZ

Sequoia Financial Advisors LLC raised its position in Verizon Communications Inc. (NYSE:VZ) by 5.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 337,053 shares of the cell phone carrier’s stock after purchasing an additional 17,086 shares during the period. Sequoia Financial Advisors LLC’s holdings in Verizon Communications were worth $16,920,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Verizon Communications by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after acquiring an additional 5,497,598 shares during the last quarter. State Street Corp raised its holdings in shares of Verizon Communications by 3.5% in the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after purchasing an additional 867,694 shares in the last quarter. Finally, Norges Bank acquired a new position in Verizon Communications during the fourth quarter worth $2,357,158,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Stock Performance

Shares of VZ stock traded down $0.10 during midday trading on Friday, hitting $42.14. 27,697,528 shares of the company were exchanged, compared to its average volume of 33,171,120. The firm has a market capitalization of $175.95 billion, a P/E ratio of 10.28, a PEG ratio of 1.03 and a beta of 0.26. 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 firm’s 50 day moving average price is $46.10 and its two-hundred day moving average price is $45.97. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company’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. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.98 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. Verizon Communications’s payout ratio is presently 69.02%.

Analysts Set New Price Targets

VZ has been the subject of a number of recent research reports. Wells Fargo & Company began coverage on shares of Verizon Communications in a research note on Wednesday. They set an “equal weight” rating and a $43.00 price objective for the company. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Morgan Stanley increased their price target on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Citigroup raised their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.28.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon (NYSE:VZ) Dow Exit Deepens Starlink Market Pressure

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.