Conning Inc. Trims Holdings in Verizon Communications Inc. $VZ

Conning Inc. cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 13.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 736,463 shares of the cell phone carrier’s stock after selling 116,160 shares during the period. Verizon Communications comprises 1.2% of Conning Inc.’s portfolio, making the stock its 16th biggest holding. Conning Inc.’s holdings in Verizon Communications were worth $36,970,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its holdings in Verizon Communications by 5.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 337,053 shares of the cell phone carrier’s stock worth $16,920,000 after acquiring an additional 17,086 shares during the period. Mascoma Wealth Management LLC boosted its holdings in Verizon Communications by 10.4% in the 1st quarter. Mascoma Wealth Management LLC now owns 14,343 shares of the cell phone carrier’s stock valued at $720,000 after purchasing an additional 1,349 shares during the period. Villere ST Denis J & Co. LLC grew its position in shares of Verizon Communications by 10.6% during the 1st quarter. Villere ST Denis J & Co. LLC now owns 465,480 shares of the cell phone carrier’s stock valued at $23,367,000 after purchasing an additional 44,560 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its position in shares of Verizon Communications by 21.4% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 9,459 shares of the cell phone carrier’s stock valued at $475,000 after purchasing an additional 1,669 shares in the last quarter. Finally, Walled Lake Planning & Wealth Management LLC bought a new position in shares of Verizon Communications in the first quarter worth $253,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon (NYSE:VZ) Dow Exit Deepens Starlink Market Pressure

Analyst Upgrades and Downgrades

VZ has been the topic of a number of research analyst reports. Dbs Bank lowered Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wells Fargo & Company assumed coverage on Verizon Communications in a report on Wednesday. They set an “equal weight” rating and a $43.00 price objective for the company. Morgan Stanley raised their target price on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Finally, Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Nine analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $50.28.

Verizon Communications Stock Down 0.2%

Shares of Verizon Communications stock opened at $42.14 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. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The company’s 50 day moving average price is $46.10 and its 200-day moving average price is $45.97. The stock has a market capitalization of $175.95 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.03 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.07. The company had revenue of $34.44 billion for 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.98 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.7%. Verizon Communications’s dividend payout ratio (DPR) 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.