Levin Capital Strategies L.P. Acquires 37,393 Shares of Verizon Communications Inc. $VZ

Levin Capital Strategies L.P. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 532,956 shares of the cell phone carrier’s stock after buying an additional 37,393 shares during the period. Verizon Communications makes up about 1.5% of Levin Capital Strategies L.P.’s portfolio, making the stock its 13th largest position. Levin Capital Strategies L.P.’s holdings in Verizon Communications were worth $22,565,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% during the fourth 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 in the last quarter. Robinswood Financial LLC bought a new position in Verizon Communications in the 1st quarter valued at about $27,000. Lam Group Inc. acquired a new position in Verizon Communications during the 1st quarter valued at about $28,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors increased its holdings 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 worth $29,000 after purchasing an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Verizon Communications Trading Up 1.2%

Shares of VZ opened at $48.63 on Wednesday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The business has a 50-day moving average of $45.41 and a 200 day moving average of $47.17. The firm has a market cap of $202.05 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.25. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. The business had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio is presently 73.70%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VZ. JPMorgan Chase & Co. increased their price objective on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a report on Friday, June 12th. Barclays increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Morgan Stanley raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Verizon Communications currently has an average rating of “Hold” and a consensus target price of $50.84.

Verizon Communications 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.