Financiere des Professionnels Fonds d investissement inc. Buys New Stake in Verizon Communications Inc. $VZ

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 59,069 shares of the cell phone carrier's stock, valued at approximately $2,965,000.

Several other large investors have also recently added to or reduced their stakes in the stock. RKL Wealth Management LLC lifted its stake in shares of Verizon Communications by 4.3% during the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock worth $268,000 after purchasing an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its stake in shares of Verizon Communications by 8.6% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier's stock valued at $113,000 after buying an additional 219 shares in the last quarter. Frazier Financial Advisors LLC grew its stake in shares of Verizon Communications by 32.7% in the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock valued at $45,000 after buying an additional 219 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Verizon Communications by 0.7% during the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier's stock valued at $1,426,000 after buying an additional 227 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC raised its holdings in shares of Verizon Communications by 3.8% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 6,305 shares of the cell phone carrier's stock valued at $257,000 after buying an additional 233 shares during the period. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Freedom Capital raised Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Dbs Bank downgraded shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Morgan Stanley lifted their price objective 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. Scotiabank reduced their target price on shares of Verizon Communications from $54.50 to $51.50 and set a "sector outperform" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $50.09.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon’s store divestitures and layoffs could lower operating costs and support margins as the company restructures its retail footprint. VZ Stock Rises — Verizon Moves To Slash Costs With Major Store Shakeup
• Positive Sentiment: KeyCorp raised multiple earnings estimates for Verizon, including FY2027 EPS to $5.40, suggesting analysts see improving profitability ahead.
• Positive Sentiment: Verizon is also benefiting from signs of operational strength, including strong wireless network quality rankings and a new BMW connected-car partnership that could expand 5G and IoT revenue opportunities. Wireless Network Quality Returns to Record High, JD Power Finds
• Neutral Sentiment: Scotiabank lowered its price target to $51.50 from $54.50 but kept a “sector outperform” rating, so the note was cautious but not bearish.
• Negative Sentiment: The restructuring includes significant layoffs and store sales, which can signal pressure on the core business and create near-term disruption for employees and operations. Verizon to shed 274 stores, lay off another 500 corporate employees

Verizon Communications Stock Performance

Verizon Communications stock opened at $43.84 on Friday. The stock has a market cap of $183.08 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.26. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The stock has a 50 day moving average of $45.74 and a 200-day moving average of $46.09. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.07. The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts expect that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 69.02%.

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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