BI Asset Management Fondsmaeglerselskab A S Has $85.87 Million Stake in Verizon Communications Inc. $VZ

BI Asset Management Fondsmaeglerselskab A S lifted its stake in Verizon Communications Inc. (NYSE:VZ) by 24.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,712,762 shares of the cell phone carrier’s stock after purchasing an additional 339,485 shares during the quarter. Verizon Communications accounts for approximately 0.9% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 22nd largest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Verizon Communications were worth $85,869,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL raised its holdings in Verizon Communications by 8.6% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock valued at $113,000 after acquiring an additional 219 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Verizon Communications by 0.7% during the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after acquiring an additional 227 shares during the period. Blake Schutter Theil Wealth Advisors LLC lifted its position in shares of Verizon Communications by 3.8% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 6,305 shares of the cell phone carrier’s stock valued at $257,000 after acquiring an additional 233 shares during the period. Triton Wealth Management PLLC grew its holdings in shares of Verizon Communications by 2.6% during the 4th quarter. Triton Wealth Management PLLC now owns 9,257 shares of the cell phone carrier’s stock worth $377,000 after purchasing an additional 234 shares in the last quarter. Finally, Clearstead Trust LLC grew its holdings in shares of Verizon Communications by 2.5% during the 4th quarter. Clearstead Trust LLC now owns 9,788 shares of the cell phone carrier’s stock worth $399,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.1%

Shares of VZ opened at $45.44 on Friday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The business’s fifty day moving average is $46.92 and its 200-day moving average is $45.66. 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 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 posted its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. Verizon Communications’s revenue was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders 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 6.2%. Verizon Communications’s payout ratio is presently 69.02%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Oppenheimer increased their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Dbs Bank lowered shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Raymond James Financial reissued an “outperform” rating and issued a $56.00 target price on shares of Verizon Communications in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.59.

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.