CenterBook Partners LP Raises Stake in Verizon Communications Inc. $VZ

CenterBook Partners LP increased its stake in Verizon Communications Inc. (NYSE:VZ) by 250.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,360 shares of the cell phone carrier’s stock after buying an additional 41,008 shares during the period. CenterBook Partners LP’s holdings in Verizon Communications were worth $2,336,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $975,000. Bcwm LLC grew its holdings in Verizon Communications by 0.4% during the 4th quarter. Bcwm LLC now owns 115,240 shares of the cell phone carrier’s stock worth $4,694,000 after acquiring an additional 455 shares in the last quarter. ING Groep NV increased its position in Verizon Communications by 9,331.7% during the 4th quarter. ING Groep NV now owns 701,152 shares of the cell phone carrier’s stock valued at $28,558,000 after purchasing an additional 693,718 shares during the period. Modus Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $47,000. Finally, Longfellow Investment Management Co. LLC boosted its stake in shares of Verizon Communications by 514.2% during the fourth quarter. Longfellow Investment Management Co. LLC now owns 220,979 shares of the cell phone carrier’s stock valued at $9,000,000 after purchasing an additional 185,003 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VZ. JPMorgan Chase & Co. lifted their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 price target on shares of Verizon Communications in a research report on Thursday, March 12th. Barclays raised their price objective on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley boosted their target price on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $50.59.

Verizon Communications Stock Performance

Shares of VZ stock opened at $45.84 on Wednesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business’s fifty day simple moving average is $47.35 and its 200-day simple moving average is $45.36. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The company has a market cap of $191.40 billion, a PE ratio of 11.18, a PEG ratio of 1.11 and a beta of 0.24.

Verizon Communications (NYSE:VZ) last announced its 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 firm had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same period in the previous year, the business earned $1.19 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts expect that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.2%. Verizon Communications’s dividend payout ratio is 69.02%.

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.