Verizon Communications (NYSE:VZ) Rating Increased to Strong-Buy at Erste Group Bank

Erste Group Bank upgraded shares of Verizon Communications (NYSE:VZ) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. William Blair upgraded shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Citigroup boosted their price objective on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.56.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $49.46 on Thursday. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.68. The business’s 50 day moving average price is $48.36 and its 200 day moving average price is $43.44. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market cap of $208.59 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.07 and a beta of 0.29.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. During the same period last year, the firm posted $1.10 EPS. Verizon Communications’s revenue for the quarter was up 2.0% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, sell-side analysts expect that Verizon Communications will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 5.7%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is 68.15%.

Insider Transactions at Verizon Communications

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the transaction, the executive vice president directly owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hans Erik Vestberg sold 200,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the transaction, the director owned 145,069 shares in the company, valued at $7,196,873.09. The trade was a 57.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 218,148 shares of company stock valued at $10,780,356 over the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Verizon Communications by 1.5% during 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 acquiring an additional 5,497,598 shares in the last quarter. State Street Corp lifted its stake in Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after purchasing an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Verizon Communications by 5.3% in the 4th 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 purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 867,694 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of 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.

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.