Verizon Communications Inc. $VZ Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 18.0% during the first quarter, Holdings Channel reports. The firm owned 80,225 shares of the cell phone carrier’s stock after purchasing an additional 12,252 shares during the quarter. Cidel Asset Management Inc.’s holdings in Verizon Communications were worth $4,027,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Verizon Communications in the 4th quarter worth about $2,357,158,000. Bank of New York Mellon Corp lifted its stake in Verizon Communications by 31.2% during the fourth quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after buying an additional 7,509,055 shares in the last quarter. State Street Corp boosted 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 worth $9,080,810,000 after buying an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 5,851,715 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of 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 worth $15,453,058,000 after acquiring an additional 5,497,598 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

Shares of VZ opened at $46.78 on Wednesday. The company has a market capitalization of $195.33 billion, a PE ratio of 11.41, a PEG ratio of 1.11 and a beta of 0.24. 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 company’s 50 day moving average price is $46.89 and its 200 day moving average price is $45.77. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts expect that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.7075 per share. 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 6.0%. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon launched two new wireless offerings, Simplicity and Verizon One, to win back subscribers with simpler pricing and bundled mobile/home internet plans. That could help stabilize churn and support future revenue growth. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Verizon has been a trending stock on Zacks, which suggests elevated investor interest, but the item itself does not point to a specific fundamental catalyst. Verizon Communications Inc. (VZ) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29. Being removed from the DJIA can weigh on sentiment because it reduces index visibility and is often interpreted as a relative loss of blue-chip status. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VZ shares. Wells Fargo & Company boosted their price target on shares of Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Morgan Stanley boosted their target price on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Oppenheimer increased their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Dbs Bank downgraded Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $50.59.

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.