Verizon Communications Inc. $VZ Stock Holdings Increased by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 18.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 80,225 shares of the cell phone carrier’s stock after acquiring an additional 12,252 shares during the quarter. Cidel Asset Management Inc.’s holdings in Verizon Communications were worth $4,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Strengthening Families & Communities LLC raised its stake in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares in the last quarter. Holos Integrated Wealth LLC bought a new position in Verizon Communications in the 4th quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications in the 3rd quarter valued at about $29,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in 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 buying an additional 448 shares during the period. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Raymond James Financial reissued an “outperform” rating and set a $56.00 target price on shares of Verizon Communications in a report on Thursday, March 12th. Barclays upped 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, Morgan Stanley increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon launched two new wireless offerings, Simplicity and Verizon One, to win back subscribers with simpler pricing and bundled mobile/home internet plans. That could help stabilize churn and support future revenue growth. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Verizon has been a trending stock on Zacks, which suggests elevated investor interest, but the item itself does not point to a specific fundamental catalyst. Verizon Communications Inc. (VZ) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29. Being removed from the DJIA can weigh on sentiment because it reduces index visibility and is often interpreted as a relative loss of blue-chip status. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average

Verizon Communications Price Performance

Shares of Verizon Communications stock opened at $46.78 on Wednesday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week 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 stock has a market cap of $195.33 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24. The company’s 50-day moving average price is $46.89 and its two-hundred day moving average price is $45.77.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion during 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 business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 6.0%. Verizon Communications’s dividend payout ratio is currently 69.02%.

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.