Verizon Communications Inc. $VZ Shares Bought by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP increased its stake in Verizon Communications Inc. by 79.3%, resulting in holdings valued at $23.15 million, making Verizon the 22nd largest holding in their portfolio.
• Several hedge funds have also boosted their positions in Verizon, with notable increases from GQG Partners LLC at 303.9% and Vanguard Group Inc. at 1.2%, reflecting strong institutional interest in the stock.
• Analyst ratings for Verizon have varied, with three firms issuing a Strong Buy rating, while others have raised price targets, now averaging $47.44, indicating positive sentiment among analysts.

Invenomic Capital Management LP grew its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 79.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 510,403 shares of the cell phone carrier's stock after buying an additional 225,713 shares during the period. Verizon Communications accounts for about 1.2% of Invenomic Capital Management LP's portfolio, making the stock its 22nd largest position. Invenomic Capital Management LP's holdings in Verizon Communications were worth $23,152,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 368,171,941 shares of the cell phone carrier's stock valued at $16,700,279,000 after buying an additional 4,347,416 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Verizon Communications by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 109,866,405 shares of the cell phone carrier's stock valued at $4,983,225,000 after purchasing an additional 1,172,175 shares during the last quarter. GQG Partners LLC raised its position in shares of Verizon Communications by 303.9% in the 1st quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after purchasing an additional 37,516,167 shares during the last quarter. Northern Trust Corp raised its position in shares of Verizon Communications by 1.0% in the 1st quarter. Northern Trust Corp now owns 45,475,099 shares of the cell phone carrier's stock valued at $2,062,750,000 after purchasing an additional 431,789 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Verizon Communications by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after purchasing an additional 4,568,518 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

Verizon Communications stock traded down $1.06 during trading on Monday, reaching $43.32. The company had a trading volume of 30,197,450 shares, compared to its average volume of 21,191,367. The firm's 50-day simple moving average is $43.20 and its 200 day simple moving average is $43.37. Verizon Communications Inc. has a 1-year low of $37.58 and a 1-year high of $47.35. The firm has a market capitalization of $182.66 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The firm had revenue of $34.50 billion for the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter last year, the company earned $1.15 EPS. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.4%. This is a boost from Verizon Communications's previous quarterly dividend of $0.68. Verizon Communications's payout ratio is 63.17%.

Analyst Ratings Changes

A number of research firms have issued reports on VZ. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a research report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target for the company. Bank of America raised their price target on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $47.65.

Verizon Communications Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).