Rockefeller Capital Management L.P. Boosts Stock Position in Verizon Communications Inc. $VZ

Rockefeller Capital Management L.P. increased its holdings in Verizon Communications Inc. (NYSE:VZ) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,693,602 shares of the cell phone carrier’s stock after buying an additional 647,230 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.06% of Verizon Communications worth $109,710,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Verizon Communications in the third quarter worth about $29,000. Strengthening Families & Communities LLC grew its stake 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 period. Holos Integrated Wealth LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth approximately $28,000. EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors increased its holdings in shares of Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after purchasing an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

NYSE:VZ opened at $45.44 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market capitalization of $189.72 billion, a PE ratio of 11.08, a P/E/G ratio of 1.11 and a beta of 0.24. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The company has a fifty day moving average of $46.92 and a two-hundred day moving average of $45.66.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, research analysts forecast that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued 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 dividend payout ratio is presently 69.02%.

Wall Street Analysts Forecast Growth

VZ has been the topic of a number of recent analyst reports. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Morgan Stanley increased their target price on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Citigroup lifted their price target on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company 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.