Meiji Yasuda Asset Management Co Ltd. Has $27.04 Million Holdings in Verizon Communications Inc. $VZ

Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 615,136 shares of the cell phone carrier’s stock after buying an additional 12,655 shares during the period. Verizon Communications makes up approximately 1.3% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 9th biggest holding. Meiji Yasuda Asset Management Co Ltd.’s holdings in Verizon Communications were worth $27,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Hudock Inc. increased its position in shares of Verizon Communications by 0.6% during the second quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier’s stock worth $1,724,000 after acquiring an additional 238 shares in the last quarter. McLean Asset Management Corp lifted its position in Verizon Communications by 2.9% in the 3rd quarter. McLean Asset Management Corp now owns 8,571 shares of the cell phone carrier’s stock valued at $355,000 after acquiring an additional 243 shares in the last quarter. Red Spruce Capital LLC lifted its position in Verizon Communications by 0.3% in the 3rd quarter. Red Spruce Capital LLC now owns 71,541 shares of the cell phone carrier’s stock valued at $3,144,000 after acquiring an additional 246 shares in the last quarter. Camden National Bank boosted its stake in Verizon Communications by 4.6% in the 2nd quarter. Camden National Bank now owns 5,666 shares of the cell phone carrier’s stock worth $245,000 after purchasing an additional 248 shares during the period. Finally, Cascade Financial Partners LLC boosted its stake in Verizon Communications by 3.5% in the 3rd quarter. Cascade Financial Partners LLC now owns 7,318 shares of the cell phone carrier’s stock worth $322,000 after purchasing an additional 250 shares during the period. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup lifted their price target on Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Williams Trading set a $54.00 price objective on Verizon Communications in a research report on Monday, February 2nd. Barclays started coverage on Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price objective for the company. Sanford C. Bernstein restated a “market perform” rating and issued a $48.00 target price on shares of Verizon Communications in a research note on Monday, February 2nd. Finally, Evercore upped their price target on Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.02.

View Our Latest Report on Verizon Communications

Verizon Communications Trading Down 0.0%

Shares of NYSE:VZ opened at $51.17 on Friday. The company’s 50-day moving average price is $44.40 and its two-hundred day moving average price is $42.60. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $215.82 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.31.

Verizon Communications (NYSE:VZGet Free Report) last released its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The business had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. Verizon Communications’s quarterly revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a dividend of $0.7075 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.5%. Verizon Communications’s payout ratio is presently 68.15%.

Key Stories Impacting Verizon Communications

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

Insiders Place Their Bets

In other news, Director Hans Erik Vestberg sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the sale, the director owned 145,069 shares in the company, valued at $7,196,873.09. This represents a 57.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president directly owned 43,782 shares of the company’s stock, valued at approximately $2,189,100. The trade was a 16.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,148 shares of company stock valued at $10,780,356 in the last 90 days. 0.10% of the stock is currently owned by insiders.

Verizon Communications Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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