SteelPeak Wealth LLC Raises Stock Position in Verizon Communications Inc. $VZ

SteelPeak Wealth LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440,837 shares of the cell phone carrier’s stock after acquiring an additional 14,017 shares during the period. SteelPeak Wealth LLC’s holdings in Verizon Communications were worth $22,130,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Verizon Communications during the 4th quarter valued at $2,357,158,000. Bank of New York Mellon Corp grew its stake in Verizon Communications by 31.2% during the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock worth $1,286,423,000 after buying an additional 7,509,055 shares during the last quarter. State Street Corp increased its position in Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after buying an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock valued at $4,747,930,000 after buying an additional 5,851,715 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after buying an additional 5,497,598 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Verizon Communications

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 Trading Up 2.4%

Shares of NYSE:VZ opened at $43.84 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business has a 50 day moving average of $45.74 and a two-hundred day moving average of $46.09. The company has a market capitalization of $183.08 billion, a PE ratio of 10.69, a PEG ratio of 1.05 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating 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 firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the previous year, the firm earned $1.19 EPS. The business’s quarterly revenue 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, analysts forecast that Verizon Communications Inc. will post 4.98 EPS for the current year.

Verizon Communications Announces Dividend

The company 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 $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 yield of 6.5%. Verizon Communications’s payout ratio is presently 69.02%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VZ. Barclays dropped their price target on Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.09.

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.