739,995 Shares in Verizon Communications Inc. $VZ Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in Verizon Communications Inc. (NYSE:VZ) during the first quarter, HoldingsChannel reports. The institutional investor bought 739,995 shares of the cell phone carrier’s stock, valued at approximately $37,148,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Verizon Communications by 1.5% in the 4th 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 period. State Street Corp grew 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 in the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC increased its stake in Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after buying an additional 867,694 shares during the period. Finally, Norges Bank acquired a new stake in Verizon Communications during the 4th quarter worth approximately $2,357,158,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications News Summary

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

• Negative Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, which may weigh on sentiment as Verizon loses a prestigious index position. Alphabet added to Dow Jones Industrial Average, replacing Verizon
• Negative Sentiment: Verizon is leaving the Dow partly because its low share price gave it an “immaterial impact” on the index, highlighting its limited influence in the benchmark. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.
• Neutral Sentiment: Verizon launched new wireless plans focused on affordability and simplicity to stem subscriber losses, which could help stabilize the business but also underscores competitive pressure. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Despite the stock’s weakness, some investors continue to view Verizon as a defensive dividend name with an attractive yield. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today

Verizon Communications Stock Down 2.2%

Shares of NYSE VZ opened at $45.70 on Thursday. The company has a market capitalization of $190.82 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The business has a 50-day moving average of $46.89 and a two-hundred day moving average of $45.80. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ) last released 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 business had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The business’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. On average, analysts forecast that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 69.02%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley raised their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Scotiabank raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a report on Friday, June 12th. Finally, Oppenheimer increased their price target on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.59.

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.