Carnegie Investment Counsel Boosts Stock Position in Verizon Communications Inc. $VZ

Key Points

• Carnegie Investment Counsel increased its Verizon stake by 3.8% in the first quarter, buying 30,698 more shares and bringing its total holding to 840,198 shares worth about $39.9 million.
• Verizon posted solid quarterly results, with EPS of $1.28 beating estimates and revenue rising 2.7% year over year to $34.44 billion, though revenue came in slightly below expectations.
• The company continues to attract income investors thanks to a quarterly dividend of $0.7075 per share, equal to an annualized yield of 6.7%, while analysts currently rate the stock a cautious “Hold” on average.

Carnegie Investment Counsel lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 840,198 shares of the cell phone carrier's stock after buying an additional 30,698 shares during the period. Carnegie Investment Counsel's holdings in Verizon Communications were worth $39,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Avanza Fonder AB raised its holdings in shares of Verizon Communications by 5.6% during the fourth quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier's stock valued at $13,521,000 after acquiring an additional 17,495 shares in the last quarter. Econ Financial Services Corp increased its stake in shares of Verizon Communications by 23.5% in the 4th quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier's stock worth $3,184,000 after acquiring an additional 14,862 shares in the last quarter. USS Investment Management Ltd boosted its stake in Verizon Communications by 4.6% during the first quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier's stock worth $35,790,000 after acquiring an additional 31,354 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Verizon Communications by 41.0% during the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier's stock valued at $89,499,000 after purchasing an additional 639,380 shares in the last quarter. Finally, Clarity Financial LLC lifted its holdings in shares of Verizon Communications by 697.0% during the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier's stock valued at $19,189,000 after purchasing an additional 412,018 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ traded down $0.10 during midday trading on Friday, reaching $42.14. 27,697,528 shares of the company's stock traded hands, compared to its average volume of 33,171,120. The company has a market cap of $175.95 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.03 and a beta of 0.26. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The stock has a 50 day moving average of $46.10 and a 200 day moving average of $45.97.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data 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 company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same period last year, the company earned $1.19 EPS. Verizon Communications'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. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business 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. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.7%. Verizon Communications's payout ratio is currently 69.02%.

Analysts Set New Price Targets

VZ has been the subject of a number of analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Morgan Stanley boosted their target price on Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. raised their price target on Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Barclays lowered their price target on Verizon Communications from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.28.

Key Headlines Impacting Verizon Communications

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 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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