Franklin Resources Inc. Has $544.14 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Franklin Resources increased its Verizon stake by 11.6% in the fourth quarter, adding 1.39 million shares and bringing its total holding to 13.36 million shares worth about $544.1 million.
• Other institutional investors also boosted or initiated positions in Verizon, and institutions now own 62.06% of the company’s stock.
• Verizon reported quarterly EPS of $1.28, beating estimates, and declared a quarterly dividend of $0.7075 per share, implying an annualized yield of about 6.2%.

Franklin Resources Inc. raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 13,359,609 shares of the cell phone carrier's stock after acquiring an additional 1,387,919 shares during the period. Franklin Resources Inc. owned approximately 0.32% of Verizon Communications worth $544,137,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH raised its holdings in shares of Verizon Communications by 64.8% in the 4th quarter. Erste Asset Management GmbH now owns 42,090 shares of the cell phone carrier's stock worth $1,713,000 after acquiring an additional 16,546 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in Verizon Communications by 4.1% during the 4th quarter. Brandywine Global Investment Management LLC now owns 4,309,428 shares of the cell phone carrier's stock valued at $175,523,000 after purchasing an additional 168,597 shares during the last quarter. CenterBook Partners LP increased its holdings in Verizon Communications by 250.8% during the 4th quarter. CenterBook Partners LP now owns 57,360 shares of the cell phone carrier's stock worth $2,336,000 after purchasing an additional 41,008 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in Verizon Communications during the 4th quarter worth approximately $975,000. Finally, Bcwm LLC raised its stake in shares of Verizon Communications by 0.4% in the fourth quarter. Bcwm LLC now owns 115,240 shares of the cell phone carrier's stock worth $4,694,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Analyst Upgrades and Downgrades

VZ has been the subject of several recent research reports. Barclays upped their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. Dbs Bank lowered shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Oppenheimer increased their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday, March 11th. Wells Fargo & Company boosted their price target on shares of Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $50.59.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $45.51 on Tuesday. The company has a market capitalization of $190.04 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24. The company's 50-day moving average is $47.44 and its 200 day moving average is $45.33. 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 fifty-two week low of $38.39 and a fifty-two 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 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 company had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same quarter last year, the business posted $1.19 EPS. Verizon Communications's quarterly revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.97 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications's dividend payout ratio is currently 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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