Canal Insurance CO Raises Stock Holdings in Verizon Communications Inc. $VZ

Key Points

• Canal Insurance CO boosted its Verizon stake by 42.4% in Q1, buying 50,000 additional shares to bring its total to 168,000 shares worth about $8.43 million.
• Verizon’s latest quarterly results beat earnings expectations, with EPS of $1.28 versus the $1.21 estimate, though revenue came in slightly below forecasts at $34.44 billion.
• The company continues to appeal to income investors, declaring a $0.7075 quarterly dividend that implies a 6.6% yield, while analysts currently rate the stock a consensus Hold with an average target price of $50.28.

Canal Insurance CO increased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 42.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 168,000 shares of the cell phone carrier's stock after acquiring an additional 50,000 shares during the period. Verizon Communications comprises 1.8% of Canal Insurance CO's portfolio, making the stock its 19th biggest position. Canal Insurance CO's holdings in Verizon Communications were worth $8,434,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of VZ. Vanguard Group Inc. increased its stake in Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock worth $15,453,058,000 after purchasing an additional 5,497,598 shares during the period. State Street Corp boosted its stake in shares of Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Verizon Communications by 5.3% during 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 purchasing an additional 5,851,715 shares during the period. Geode Capital Management LLC grew its holdings in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier's stock worth $4,168,080,000 after purchasing an additional 867,694 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Verizon Communications in the fourth quarter worth about $2,357,158,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $42.64 on Tuesday. The firm has a market cap of $178.05 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.03 and a beta of 0.26. 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. The stock's fifty day moving average price is $46.00 and its 200-day moving average price is $46.03.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The firm's revenue for the quarter 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. On average, equities research analysts expect that Verizon Communications Inc. will post 4.98 earnings per share 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 issued a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.6%. Verizon Communications's payout ratio is currently 69.02%.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon launched the new Gizmo Watch 4, a kid-friendly smartwatch with safety features like removal detection and real-time location tracking, which could help expand the company’s Verizon Family ecosystem and add wireless subscribers. Meet the Gizmo Watch 4: Verizon’s new kid-friendly smartwatch
• Positive Sentiment: Verizon announced it will power new BMW Group vehicles in the U.S. with 5G Standalone, broadening its automotive connectivity business and potentially creating a new growth avenue in connected-car services. Can Verizon's KDDI Tie-Up for Latest BMW Vehicles Boost Its Profits?
• Positive Sentiment: Coverage highlighting Verizon as a defensive, high-yield dividend stock and “cash machine” may be supporting demand from income-focused investors seeking stability ahead of market volatility. The Cash Machine The Market Put On Sale: VZ
• Neutral Sentiment: Investors are also watching Verizon’s earnings report next week, which could become the main near-term catalyst for the stock depending on subscriber growth, pricing trends, and guidance. Should You Buy Verizon Communications Stock Before July 24?
• Neutral Sentiment: Verizon also spotlighted its Small Business Super Pitch finalists, a brand and community-relations initiative that is positive for image but likely limited in immediate financial impact. Four small businesses to compete in finals of Verizon's Small Business Super Pitch

Analysts Set New Price Targets

A number of brokerages recently weighed in on VZ. Morgan Stanley lifted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Dbs Bank downgraded shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications presently has an average rating of "Hold" and an average target price of $50.28.

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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