Cornerstone Planning LLC Takes Position in Verizon Communications Inc. $VZ

Cornerstone Planning LLC purchased a new stake in Verizon Communications Inc. (NYSE:VZ) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 68,539 shares of the cell phone carrier’s stock, valued at approximately $2,807,000.

A number of other institutional investors have also recently bought and sold shares of the company. Strengthening Families & Communities LLC raised its holdings in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the period. Holos Integrated Wealth LLC bought a new position in shares of Verizon Communications during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Verizon Communications in the 3rd quarter valued at $29,000. EQ Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VZ. Oppenheimer lifted their target price on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Morgan Stanley boosted their target price on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Barclays raised their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Thursday, March 12th. One equities research 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 company’s stock. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $50.59.

Verizon Communications Stock Up 0.1%

Shares of VZ stock opened at $45.44 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm’s fifty day moving average price is $46.92 and its two-hundred day moving average price is $45.66. The firm has a market capitalization of $189.72 billion, a P/E ratio of 11.08, a PEG ratio of 1.11 and a beta of 0.24.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.97 EPS 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. 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 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio is 69.02%.

Verizon Communications Company 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.