Alley Investment Management Company LLC Buys 24,565 Shares of Verizon Communications Inc. $VZ

Key Points

• Alley Investment Management increased its Verizon stake by 18.4% in the first quarter, buying 24,565 shares and lifting its holdings to 157,896 shares worth about $7.9 million.
• Analyst sentiment remains mixed but generally constructive: Verizon currently has an average “Moderate Buy” rating, with a consensus price target of $50.59. Recent actions included a Wells Fargo target raise to $46 and several firms reiterating hold or buy views.
• Verizon reported better-than-expected earnings of $1.28 per share for the quarter, but revenue came in below estimates. The company also declared a quarterly dividend of $0.7075 per share, implying a 6.7% yield.

Alley Investment Management Company LLC boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 18.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,896 shares of the cell phone carrier's stock after buying an additional 24,565 shares during the period. Alley Investment Management Company LLC's holdings in Verizon Communications were worth $7,926,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB increased its position in shares of Verizon Communications by 5.6% during the 4th quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier's stock valued at $13,521,000 after purchasing an additional 17,495 shares during the last quarter. Econ Financial Services Corp increased its holdings in Verizon Communications by 23.5% during the fourth quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier's stock worth $3,184,000 after buying an additional 14,862 shares during the last quarter. Teacher Retirement System of Texas raised its position in Verizon Communications by 41.0% in the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier's stock worth $89,499,000 after acquiring an additional 639,380 shares during the period. Clarity Financial LLC boosted its stake in Verizon Communications by 697.0% in the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier's stock valued at $19,189,000 after acquiring an additional 412,018 shares during the last quarter. Finally, Cibc World Market Inc. increased its position in Verizon Communications by 15.3% in the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier's stock worth $97,059,000 after buying an additional 316,854 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on VZ. Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Wells Fargo & Company raised their price target on shares of Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Raymond James Financial reiterated an "outperform" rating and issued a $56.00 target price on shares of Verizon Communications in a research report on Thursday, March 12th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. 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. According to MarketBeat, Verizon Communications currently has an average rating of "Moderate Buy" and an average price target of $50.59.

More Verizon Communications News

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

• Positive Sentiment: Verizon’s BT Group joint venture could improve its international enterprise reach and create a more scalable global connectivity platform. Reuters: BT, Verizon announce joint venture for international enterprise units
• Neutral Sentiment: Analysts and market commentary continue to debate whether the Dow removal is a temporary index-rebalancing event or a sign of weaker long-term sentiment toward Verizon. Motley Fool: Verizon Gets Booted from the Dow Jones Industrial Average
• Negative Sentiment: Verizon was removed from the Dow Jones Industrial Average, prompting selling pressure from index funds and signaling a lower profile among blue-chip stocks. Yahoo Finance: Why Verizon Shares Are Trading Lower Today
• Negative Sentiment: The BT joint venture comes with added transformation costs, and Verizon disclosed it could take up to an $800 million hit tied to the deal. Stocktwits: Verizon Flags Up To $800M BT Group JV Hit
• Negative Sentiment: Investor worries are also rising that SpaceX could challenge legacy wireless carriers, adding competitive pressure to Verizon’s long-term growth outlook. Barrons: SpaceX Might Bring Mobile Phone to Market

Verizon Communications Stock Performance

Shares of VZ stock opened at $42.37 on Wednesday. The company's fifty day moving average price is $46.80 and its 200-day moving average price is $45.91. The stock has a market cap of $176.92 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.07 and a beta of 0.24. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last issued 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. The firm 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%.The business's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given 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 dividend 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.

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