Candriam S.C.A. Buys 112,826 Shares of Verizon Communications Inc. $VZ

Key Points

• Candriam S.C.A. increased its Verizon stake by 27.7% in the first quarter, buying 112,826 additional shares and bringing its total holding to 520,114 shares worth about $26.1 million.
• Verizon’s stock was slightly lower in recent trading at $42.14, while the company continues to trade at a relatively low valuation with a P/E ratio of 10.28 and a market cap of about $175.95 billion.
• The company recently reported better-than-expected earnings of $1.28 per share, and it also announced a quarterly dividend of $0.7075 per share, implying a 6.7% annualized yield.

Candriam S.C.A. lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 520,114 shares of the cell phone carrier's stock after purchasing an additional 112,826 shares during the quarter. Candriam S.C.A.'s holdings in Verizon Communications were worth $26,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of VZ. Norges Bank purchased a new stake in Verizon Communications in the 4th quarter worth about $2,357,158,000. Bank of New York Mellon Corp raised its holdings in shares of 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 period. State Street Corp lifted its stake in shares of Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock worth $9,080,810,000 after acquiring an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Verizon Communications by 5.3% during the 4th 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 acquiring an additional 5,851,715 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Verizon Communications by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock valued at $15,453,058,000 after acquiring an additional 5,497,598 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

More Verizon Communications News

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon NYSE: VZ Dow Exit Deepens Starlink Market Pressure

Verizon Communications Stock Down 0.2%

NYSE VZ traded down $0.10 during midday trading on Friday, hitting $42.14. 27,697,528 shares of the company traded hands, compared to its average volume of 33,171,120. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company's 50-day simple moving average is $46.10 and its 200-day simple moving average is $45.97. The company has a market cap of $175.95 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.26. 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 released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the previous year, the company posted $1.19 EPS. The business'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. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.98 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, July 10th. Verizon Communications's payout ratio is 69.02%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VZ shares. Wells Fargo & Company assumed coverage on shares of Verizon Communications in a research note on Wednesday. They set an "equal weight" rating and a $43.00 target price for the company. Weiss Ratings restated a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Erste Group Bank reissued a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Barclays lowered their target price on Verizon Communications from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Verizon Communications presently has a consensus rating of "Hold" and an average target price of $50.28.

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.

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