Fifth Third Wealth Advisors LLC Has $8.24 Million Position in Verizon Communications Inc. $VZ

Fifth Third Wealth Advisors LLC raised its stake in Verizon Communications Inc. (NYSE:VZ) by 64.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 164,082 shares of the cell phone carrier’s stock after buying an additional 64,032 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Verizon Communications were worth $8,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in VZ. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications during the 3rd quarter worth $29,000. Strengthening Families & Communities LLC raised its holdings in Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 539 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in shares of Verizon Communications during the 4th quarter valued at $28,000. EQ Wealth Advisors LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% in the fourth 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 during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 2.2%

Shares of VZ stock opened at $45.70 on Thursday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The stock’s fifty day simple moving average is $46.89 and its 200 day simple moving average is $45.80. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $190.82 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.14 and a beta of 0.24.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same period last year, the company earned $1.19 earnings per share. 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, sell-side analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced 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 is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio (DPR) is currently 69.02%.

Key Headlines Impacting Verizon Communications

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

Analyst Ratings Changes

VZ has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 price target on shares of Verizon Communications in a report on Thursday, March 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $50.25 to $54.50 in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.