CIBC Asset Management Inc Purchases 666,510 Shares of Verizon Communications Inc. $VZ

Key Points

• CIBC Asset Management increased its Verizon stake by 56.5% in the fourth quarter, buying 666,510 additional shares and bringing its total holding to 1.85 million shares worth about $75.2 million.
• Analysts remain constructive on Verizon overall, with several firms lifting price targets and the consensus view sitting at Moderate Buy with an average target of $50.59.
• Verizon’s latest results beat earnings estimates, posting $1.28 EPS versus $1.21 expected, while revenue rose 2.7% year over year; the company also reiterated FY 2026 EPS guidance of 4.950 to 4.990.

CIBC Asset Management Inc raised its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 56.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,846,543 shares of the cell phone carrier's stock after purchasing an additional 666,510 shares during the period. CIBC Asset Management Inc's holdings in Verizon Communications were worth $75,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of VZ. Strengthening Families & Communities LLC grew its holdings in Verizon Communications by 490.0% during the fourth 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 period. Holos Integrated Wealth LLC bought a new position in Verizon Communications during the fourth quarter worth about $28,000. Foster Dykema Cabot & Partners LLC bought a new position in Verizon Communications during the third quarter worth about $29,000. EQ Wealth Advisors LLC bought a new position in Verizon Communications during the fourth quarter worth about $29,000. Finally, Daytona Street Capital LLC bought a new position in Verizon Communications during the fourth quarter worth about $33,000. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 3rd. Oppenheimer increased their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Citigroup increased their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Wells Fargo & Company raised their price target on Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Finally, Scotiabank raised Verizon Communications from a "sector perform" rating to a "sector outperform" rating and raised their price target for the stock from $50.25 to $54.50 in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $50.59.

Verizon Communications Price Performance

NYSE:VZ opened at $47.89 on Wednesday. The firm has a market capitalization of $199.96 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.14 and a beta of 0.24. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The stock has a fifty day moving average of $47.89 and a 200 day moving average of $45.16. 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 (NYSE:VZ - Get Free Report) last announced 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 business 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 business posted $1.19 earnings per share. 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. On average, research analysts expect that Verizon Communications Inc. will post 4.96 EPS for the current fiscal year.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon announced pricing terms for its tender offers and consent solicitations across 20 series of notes, part of an effort to refinance or retire debt and streamline its capital structure. Markets often view these moves as supportive of future cash flow flexibility. Verizon announces pricing terms of its tender offers and consent solicitations for 20 series of Verizon and certain of its subsidiaries’ notes
• Positive Sentiment: Verizon also reported early results and extended the early participation date on its debt exchange/tender programs, suggesting solid holder participation and continued progress on liability management. Verizon announces extension of early participation date and early results of its private exchange offers and consent solicitations for 11 series of notes open to certain investors
• Positive Sentiment: Array Digital Infrastructure completed the sale of select spectrum assets to Verizon for $1.0 billion, reinforcing Verizon’s long-term network investment strategy and spectrum position. Array completes sale of select spectrum assets to Verizon for 1.0 billion
• Neutral Sentiment: A separate article highlighted Verizon as a high-yield dividend stock with attractive valuation and growing cash flow, which supports the investment case but is not a new company-specific catalyst. Verizon’s Growing Cash Flow Continues to Support its Dividend
• Neutral Sentiment: Another piece said Verizon has pulled back recently but remains up over the past year, framing the stock as potentially undervalued after mixed earnings signals rather than indicating a fresh operational problem. Assessing Verizon VZ Valuation After Recent Pullback And Mixed Earnings Signals

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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