312,360 Shares in Verizon Communications Inc. $VZ Purchased by Abner Herrman & Brock LLC

Key Points

• Abner Herrman & Brock LLC bought 312,360 Verizon shares worth approximately $13.2 million during the second quarter. Institutional investors collectively own 62.06% of Verizon’s stock.
• Verizon’s latest quarterly results beat expectations, with EPS of $1.30 versus the $1.27 consensus, although revenue fell 0.7% year over year to $34.25 billion. The company reaffirmed fiscal 2026 EPS guidance of $4.99–$5.04.
• Verizon pays a quarterly dividend of $0.7075, equivalent to an annualized $2.83 and a 6.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $50.84, compared with a recent share price of $47.00.

Abner Herrman & Brock LLC purchased a new position in Verizon Communications Inc. (NYSE:VZ - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 312,360 shares of the cell phone carrier's stock, valued at approximately $13,225,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Verizon Communications in the 4th quarter worth approximately $2,357,158,000. Bank of America Corp DE boosted its holdings in Verizon Communications by 15.4% during the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock worth $3,117,471,000 after buying an additional 8,289,877 shares in the last quarter. Bank of New York Mellon Corp grew its position in Verizon Communications by 31.2% in the fourth quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier's stock worth $1,286,423,000 after buying an additional 7,509,055 shares during the last quarter. State Street Corp grew its position in Verizon Communications by 3.5% in the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock worth $9,080,810,000 after buying an additional 7,461,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier's stock valued at $4,747,930,000 after buying an additional 5,851,715 shares in the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

VZ stock opened at $47.00 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $195.28 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.31 and a beta of 0.25. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The firm has a 50 day moving average of $45.19 and a two-hundred day moving average of $46.70.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter last year, the firm earned $1.22 EPS. Verizon Communications's revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.0%. The ex-dividend date was Friday, July 10th. Verizon Communications's payout ratio is 73.70%.

Analysts Set New Price Targets

VZ has been the subject of a number of recent research reports. Scotiabank increased their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a research report on Monday, July 27th. Moffett Nathanson decreased their target price on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, July 20th. Morgan Stanley boosted their target price on Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. Finally, Wells Fargo & Company increased their price target on Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $50.84.

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.

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