CIBC Asset Management Inc Purchases 666,510 Shares of Verizon Communications Inc. $VZ

CIBC Asset Management Inc grew its position in shares of Verizon Communications Inc. (NYSE:VZ) by 56.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,846,543 shares of the cell phone carrier’s stock after acquiring an additional 666,510 shares during the quarter. CIBC Asset Management Inc’s holdings in Verizon Communications were worth $75,208,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC lifted its holdings 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 acquiring an additional 539 shares during the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $28,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $29,000. EQ Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $29,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $33,000. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Royal Bank Of Canada boosted their target price on Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of Verizon Communications in a report on Thursday, March 12th. Finally, Oppenheimer upped their price target on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.59.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon announced pricing terms for its tender offers and consent solicitations across 20 series of notes, part of an effort to refinance or retire debt and streamline its capital structure. Markets often view these moves as supportive of future cash flow flexibility. Verizon announces pricing terms of its tender offers and consent solicitations for 20 series of Verizon and certain of its subsidiaries’ notes
• Positive Sentiment: Verizon also reported early results and extended the early participation date on its debt exchange/tender programs, suggesting solid holder participation and continued progress on liability management. Verizon announces extension of early participation date and early results of its private exchange offers and consent solicitations for 11 series of notes open to certain investors
• Positive Sentiment: Array Digital Infrastructure completed the sale of select spectrum assets to Verizon for $1.0 billion, reinforcing Verizon’s long-term network investment strategy and spectrum position. Array completes sale of select spectrum assets to Verizon for 1.0 billion
• Neutral Sentiment: A separate article highlighted Verizon as a high-yield dividend stock with attractive valuation and growing cash flow, which supports the investment case but is not a new company-specific catalyst. Verizon’s Growing Cash Flow Continues to Support its Dividend
• Neutral Sentiment: Another piece said Verizon has pulled back recently but remains up over the past year, framing the stock as potentially undervalued after mixed earnings signals rather than indicating a fresh operational problem. Assessing Verizon VZ Valuation After Recent Pullback And Mixed Earnings Signals

Verizon Communications Trading Up 0.3%

VZ opened at $47.89 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The firm has a market capitalization of $199.96 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.14 and a beta of 0.24. The business has a 50 day simple moving average of $47.89 and a two-hundred day simple moving average of $45.16.

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, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the business earned $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. Analysts predict that Verizon Communications Inc. will post 4.96 EPS for the current year.

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.