Hourglass Capital LLC Increases Stock Position in Verizon Communications Inc. $VZ

Hourglass Capital LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 36.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 161,208 shares of the cell phone carrier's stock after buying an additional 42,750 shares during the quarter. Hourglass Capital LLC's holdings in Verizon Communications were worth $6,826,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. RKL Wealth Management LLC boosted its position in 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 acquiring an additional 218 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in 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 acquiring an additional 219 shares during the last quarter. Frazier Financial Advisors LLC grew its holdings in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock worth $45,000 after purchasing an additional 219 shares during the period. FAS Wealth Partners Inc. grew its stake in Verizon Communications by 1.2% during the first quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier's stock worth $925,000 after buying an additional 223 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in 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 worth $1,426,000 after purchasing an additional 227 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of analyst reports. BNP Paribas Exane decreased their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Scotiabank lifted their price target on Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research note on Monday, July 27th. Morgan Stanley lifted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. Finally, TD Cowen upped their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $50.84.

Verizon Communications Trading Down 0.7%

Shares of VZ stock opened at $48.15 on Tuesday. The stock has a 50-day simple moving average of $45.35 and a 200 day simple moving average of $47.11. The stock has a market capitalization of $200.05 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.35 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. 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 released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.03. The business had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.9%. Verizon Communications's dividend payout ratio (DPR) is currently 73.70%.

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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