Canal Insurance CO Buys 50,000 Shares of Verizon Communications Inc. $VZ

Canal Insurance CO raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 42.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,000 shares of the cell phone carrier’s stock after acquiring an additional 50,000 shares during the quarter. Verizon Communications makes up about 1.8% of Canal Insurance CO’s portfolio, making the stock its 19th biggest position. Canal Insurance CO’s holdings in Verizon Communications were worth $8,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VZ. Norges Bank purchased a new stake in shares of Verizon Communications during the 4th quarter worth $2,357,158,000. Bank of New York Mellon Corp grew its stake in Verizon Communications by 31.2% in 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 purchasing an additional 7,509,055 shares during the last quarter. State Street Corp grew its stake in 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 purchasing an additional 5,851,715 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings 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 worth $15,453,058,000 after purchasing an additional 5,497,598 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Trading Up 1.2%

Shares of NYSE:VZ opened at $42.64 on Tuesday. The business’s 50-day moving average is $46.00 and its 200 day moving average is $46.03. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm has a market capitalization of $178.05 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.03 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping 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 business had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter last year, the company earned $1.19 earnings per share. The company’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. On average, research analysts predict that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business 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 $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Morgan Stanley boosted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Citigroup increased their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Barclays lowered their target price on shares of Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.28.

Key Stories Impacting Verizon Communications

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

• Positive Sentiment: Verizon launched the new Gizmo Watch 4, a kid-friendly smartwatch with safety features like removal detection and real-time location tracking, which could help expand the company’s Verizon Family ecosystem and add wireless subscribers. Meet the Gizmo Watch 4: Verizon’s new kid-friendly smartwatch
• Positive Sentiment: Verizon announced it will power new BMW Group vehicles in the U.S. with 5G Standalone, broadening its automotive connectivity business and potentially creating a new growth avenue in connected-car services. Can Verizon’s KDDI Tie-Up for Latest BMW Vehicles Boost Its Profits?
• Positive Sentiment: Coverage highlighting Verizon as a defensive, high-yield dividend stock and “cash machine” may be supporting demand from income-focused investors seeking stability ahead of market volatility. The Cash Machine The Market Put On Sale: VZ
• Neutral Sentiment: Investors are also watching Verizon’s earnings report next week, which could become the main near-term catalyst for the stock depending on subscriber growth, pricing trends, and guidance. Should You Buy Verizon Communications Stock Before July 24?
• Neutral Sentiment: Verizon also spotlighted its Small Business Super Pitch finalists, a brand and community-relations initiative that is positive for image but likely limited in immediate financial impact. Four small businesses to compete in finals of Verizon’s Small Business Super Pitch

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.