739,995 Shares in Verizon Communications Inc. $VZ Purchased by OP Asset Management Ltd

Key Points

• OP Asset Management Ltd bought a new stake in Verizon Communications, purchasing 739,995 shares valued at about $37.1 million in the first quarter.
• Verizon remains widely held by institutions, with hedge funds and other institutional investors owning 62.06% of the company’s stock.
• Analysts currently view Verizon as a Moderate Buy, with a consensus price target of $50.59; the company also reported stronger-than-expected quarterly EPS and continues offering a 6.2% dividend yield.

OP Asset Management Ltd purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 739,995 shares of the cell phone carrier's stock, valued at approximately $37,148,000.

Several other hedge funds have also bought and sold shares of VZ. Strengthening Families & Communities LLC increased its holdings in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications in the 3rd quarter valued at about $29,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors grew its holdings in Verizon Communications by 173.0% in the fourth 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 during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VZ. 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 note on Tuesday, March 31st. Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. Dbs Bank cut shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Finally, Citigroup lifted their price objective on Verizon Communications from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.59.

Trending Headlines about Verizon Communications

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

• Negative Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, which may weigh on sentiment as Verizon loses a prestigious index position. Alphabet added to Dow Jones Industrial Average, replacing Verizon
• Negative Sentiment: Verizon is leaving the Dow partly because its low share price gave it an “immaterial impact” on the index, highlighting its limited influence in the benchmark. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.
• Neutral Sentiment: Verizon launched new wireless plans focused on affordability and simplicity to stem subscriber losses, which could help stabilize the business but also underscores competitive pressure. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Despite the stock’s weakness, some investors continue to view Verizon as a defensive dividend name with an attractive yield. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today

Verizon Communications Trading Down 2.2%

VZ opened at $45.70 on Thursday. The firm has a market capitalization of $190.82 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24. The company's 50 day simple moving average is $46.89 and its two-hundred day simple moving average is $45.80. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results 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. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm had revenue of $34.44 billion for the quarter, compared to analysts' expectations of $34.82 billion. During the same quarter in the previous year, the company posted $1.19 EPS. The company's revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts expect that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications's dividend payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.