Diamant Asset Management Inc. Purchases 1,067,472 Shares of Verizon Communications Inc. $VZ

Key Points

• Diamant Asset Management significantly increased its Verizon stake, buying 1,067,472 additional shares in Q1 and lifting its holdings to 1,089,842 shares valued at about $54.7 million.
• Verizon reported better-than-expected earnings for the quarter, with EPS of $1.28 versus the $1.21 consensus estimate, while revenue came in at $34.44 billion and rose 2.7% year over year.
• The company remains attractive for income investors, as it announced a quarterly dividend of $0.7075 per share, implying an annualized yield of about 6.1%.

Diamant Asset Management Inc. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 4,771.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,089,842 shares of the cell phone carrier's stock after purchasing an additional 1,067,472 shares during the quarter. Diamant Asset Management Inc.'s holdings in Verizon Communications were worth $54,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Strengthening Families & Communities LLC lifted its stake in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after buying an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in Verizon Communications in the 4th quarter valued at approximately $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications in the 3rd quarter valued at approximately $29,000. EQ Wealth Advisors LLC purchased a new position in Verizon Communications in the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors raised its holdings in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after acquiring an additional 448 shares during the period. Hedge funds and other institutional investors own 62.06% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on VZ. Erste Group Bank restated a "hold" rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Freedom Capital upgraded Verizon Communications to a "hold" rating in a research note on Friday, June 12th. JPMorgan Chase & Co. increased their price objective on Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Scotiabank upgraded Verizon Communications from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Finally, Morgan Stanley lifted their target price on Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.59.

Verizon Communications Stock Up 0.8%

Shares of NYSE:VZ opened at $46.43 on Friday. The firm has a fifty day moving average price of $46.93 and a two-hundred day moving average price of $45.83. The company has a market cap of $193.89 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.13 and a beta of 0.24. 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 Inc. has a one year low of $38.39 and a one year high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping 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 firm had revenue of $34.44 billion for the quarter, compared to analysts' expectations of $34.82 billion. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business's quarterly revenue was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Announces Dividend

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 paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, July 10th. Verizon Communications's dividend payout ratio is currently 69.02%.

Key Verizon Communications News

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

• Positive Sentiment: Verizon was a major winner in the FCC’s first spectrum auction in four years, bidding about $3.2 billion for mid-band wireless licenses. The added spectrum could improve network capacity and long-term service quality, which is constructive for Verizon’s growth outlook. Reuters article on Verizon spectrum bids
• Positive Sentiment: Array Digital Infrastructure completed the sale of a portion of its spectrum license to Verizon for $1.0 billion, reinforcing Verizon’s willingness to invest in strategic wireless assets and expand its spectrum position. Yahoo Finance article on Array Digital Infrastructure sale to Verizon
• Positive Sentiment: Analyst commentary and fair-value revisions were mixed but slightly constructive, with one report saying Verizon’s estimated fair value edged higher after revisions. That suggests the market still sees value in the stock despite near-term uncertainties. Yahoo Finance article on Verizon fair value
• Neutral Sentiment: Verizon confirmed it will report second-quarter 2026 earnings on July 24, keeping attention on subscriber trends, wireless pricing, and capital spending plans. GlobeNewswire earnings date announcement
• Negative Sentiment: SpaceX reportedly plans a Starlink mobile service for U.S. consumers and may eventually build its own mobile network, which could intensify competition for Verizon in wireless connectivity and pressure future growth expectations. FT report on SpaceX Starlink mobile service

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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