633,339 Shares in Verizon Communications Inc. $VZ Acquired by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 1st quarter, HoldingsChannel.com reports. The fund bought 633,339 shares of the cell phone carrier’s stock, valued at approximately $31,781,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications during the 3rd quarter worth $29,000. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% during the 4th 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 last quarter. Holos Integrated Wealth LLC purchased a new stake in Verizon Communications in the 4th quarter valued at about $28,000. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications in the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in Verizon Communications by 173.0% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

VZ opened at $45.44 on Friday. The stock’s 50-day moving average price is $46.92 and its 200 day moving average price is $45.66. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. 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 firm has a market cap of $189.72 billion, a price-to-earnings ratio of 11.08, 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 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.97 earnings per share for the current year.

Verizon Communications Dividend Announcement

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

Analyst Ratings Changes

VZ has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and set a $56.00 target price on shares of Verizon Communications in a research note on Thursday, March 12th. Citigroup boosted their price target on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley upped their price objective 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. Barclays increased 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. Finally, Oppenheimer lifted their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.