Assenagon Asset Management S.A. Has $61.38 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Assenagon Asset Management cut its Verizon stake by 38.3% in the first quarter, leaving it with 1.22 million shares worth about $61.4 million.
• Verizon reported better-than-expected EPS of $1.28, though revenue came in slightly below estimates; the company also guided FY 2026 EPS to 4.950-4.990.
• Verizon declared a quarterly dividend of $0.7075 per share, implying an annualized yield of about 6.1%, while analysts currently rate the stock Moderate Buy with an average target price of $50.59.

Assenagon Asset Management S.A. reduced its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 38.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,222,614 shares of the cell phone carrier's stock after selling 757,905 shares during the period. Assenagon Asset Management S.A.'s holdings in Verizon Communications were worth $61,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new stake in Verizon Communications during the 3rd quarter valued at $29,000. Strengthening Families & Communities LLC raised its position in Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 539 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in Verizon Communications in the fourth quarter worth $28,000. EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the fourth quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors grew its holdings in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after purchasing an additional 448 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Price Performance

Shares of VZ stock opened at $46.07 on Friday. The firm has a market cap of $192.38 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.11 and a beta of 0.24. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average price of $46.91 and a 200 day moving average price of $45.83.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) 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 company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same quarter last year, the firm earned $1.19 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts expect that Verizon Communications Inc. will post 4.97 EPS for the current year.

Verizon Communications Dividend Announcement

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 given a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. Verizon Communications's payout ratio is presently 69.02%.

Key Headlines Impacting Verizon Communications

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

• Positive Sentiment: Verizon remains a popular dividend stock, with investors still attracted to its roughly 6% yield and defensive profile. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today
• Neutral Sentiment: Some market commentary continues to frame Verizon as a potential income play, with its high yield appealing to investors seeking stability rather than growth. Verizon Communications (VZ) Falls More Steeply Than Broader Market: What Investors Need to Know
• Neutral Sentiment: Verizon’s latest earnings were solid, with the company recently beating EPS estimates, which may help support the stock’s valuation over time.
• Negative Sentiment: S&P Dow Jones Indices said Verizon will be removed from the Dow Jones Industrial Average and replaced by Alphabet, reducing its visibility in the blue-chip benchmark. Alphabet Wins a Seat at the Dow
• Negative Sentiment: Investors are also reacting to the fact that Verizon’s lower share price gave it only a small weighting in the price-weighted Dow, reinforcing concerns that the company has become less relevant to the index. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.

Analysts Set New Price Targets

A number of analysts have recently weighed in on VZ shares. Wells Fargo & Company raised their target price on Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Morgan Stanley upped their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Scotiabank raised shares of Verizon Communications from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Oppenheimer raised their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, March 11th. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.59.

About Verizon Communications

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.