68,539 Shares in Verizon Communications Inc. $VZ Purchased by Cornerstone Planning LLC

Cornerstone Planning LLC acquired a new stake in Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,539 shares of the cell phone carrier’s stock, valued at approximately $2,807,000.

Several other hedge funds have also made changes to their positions in the stock. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Verizon Communications in the 3rd quarter worth approximately $29,000. Strengthening Families & Communities LLC grew its holdings in shares of Verizon Communications by 490.0% in 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 bought a new stake in Verizon Communications during the fourth quarter worth about $28,000. EQ Wealth Advisors LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in shares of 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 in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VZ. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Wells Fargo & Company increased their price objective on Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Morgan Stanley lifted 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 boosted their target price 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. Finally, JPMorgan Chase & Co. raised their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Trading Up 0.1%

VZ opened at $45.44 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The company has a market cap of $189.72 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24. The firm has a 50 day simple moving average of $46.92 and a 200 day simple moving average of $45.66. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. During the same period last year, the firm earned $1.19 earnings per share. The business’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. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 4.97 earnings per share for the current year.

Verizon Communications Announces Dividend

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 paid a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.2%. Verizon Communications’s 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.