Fifth Third Wealth Advisors LLC Has $8.24 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Fifth Third Wealth Advisors LLC increased its Verizon stake by 64% in the first quarter, buying 64,032 additional shares and bringing its position to 164,082 shares worth about $8.24 million.
• Several other institutional investors also added to Verizon, and 62.06% of the stock is owned by institutions, showing continued professional investor interest despite recent share weakness.
• Verizon’s stock was trading around $45.70 after a 2.2% decline, while analysts currently rate it a Moderate Buy with a consensus target price of $50.59; the company also offers a quarterly dividend yielding about 6.2%.

Fifth Third Wealth Advisors LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,082 shares of the cell phone carrier's stock after buying an additional 64,032 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Verizon Communications were worth $8,237,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OP Asset Management Ltd acquired a new stake in shares of Verizon Communications in the first quarter worth $37,148,000. Apella Capital LLC grew its position in Verizon Communications by 47.4% in the 1st quarter. Apella Capital LLC now owns 43,295 shares of the cell phone carrier's stock worth $2,015,000 after purchasing an additional 13,917 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Verizon Communications by 37.1% during the first quarter. Miller Howard Investments Inc. NY now owns 1,097,506 shares of the cell phone carrier's stock valued at $55,095,000 after purchasing an additional 297,010 shares during the period. Kercheville Advisors LLC raised its stake in shares of Verizon Communications by 11.9% in the first quarter. Kercheville Advisors LLC now owns 5,867 shares of the cell phone carrier's stock valued at $294,000 after purchasing an additional 626 shares in the last quarter. Finally, Brave Asset Management Inc. raised its stake in shares of Verizon Communications by 25.1% in the first quarter. Brave Asset Management Inc. now owns 33,239 shares of the cell phone carrier's stock valued at $1,669,000 after purchasing an additional 6,673 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Morgan Stanley increased their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a report on Friday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Finally, Dbs Bank downgraded Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.59.

More Verizon Communications News

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

• Negative Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, which may weigh on sentiment as Verizon loses a prestigious index position. Alphabet added to Dow Jones Industrial Average, replacing Verizon
• Negative Sentiment: Verizon is leaving the Dow partly because its low share price gave it an “immaterial impact” on the index, highlighting its limited influence in the benchmark. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.
• Neutral Sentiment: Verizon launched new wireless plans focused on affordability and simplicity to stem subscriber losses, which could help stabilize the business but also underscores competitive pressure. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Despite the stock’s weakness, some investors continue to view Verizon as a defensive dividend name with an attractive yield. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today

Verizon Communications Stock Down 2.2%

Shares of Verizon Communications stock opened at $45.70 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.64 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 business has a fifty day simple moving average of $46.89 and a 200 day simple moving average of $45.80. The stock has a market cap of $190.82 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24.

Verizon Communications (NYSE:VZ - Get Free Report) last issued 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. The company had revenue of $34.44 billion during the quarter, compared to analysts' expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed 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 6.2%. Verizon Communications's dividend payout ratio (DPR) is presently 69.02%.

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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