Invenomic Capital Management LP Sells 325,432 Shares of Verizon Communications Inc. $VZ

Key Points

• Invenomic Capital Management cut its Verizon stake by 60.4% in the fourth quarter, selling 325,432 shares and leaving it with 213,532 shares worth about $8.7 million.
• Other institutional investors largely made small increases to their Verizon holdings, and institutions still own 62.06% of the company.
• Verizon recently posted quarterly earnings of $1.28 per share, beating estimates, while revenue came in slightly below expectations; the company also reaffirmed an annual dividend of $2.83 per share for a 6.2% yield.

Invenomic Capital Management LP lessened its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 60.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,532 shares of the cell phone carrier's stock after selling 325,432 shares during the period. Invenomic Capital Management LP's holdings in Verizon Communications were worth $8,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Sumitomo Life Insurance Co. raised its stake in Verizon Communications by 0.7% in 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 acquiring an additional 227 shares during the period. Blake Schutter Theil Wealth Advisors LLC raised its stake in Verizon Communications by 3.8% in 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 acquiring an additional 233 shares during the period. Triton Wealth Management PLLC raised its stake in Verizon Communications by 2.6% in the 4th quarter. Triton Wealth Management PLLC now owns 9,257 shares of the cell phone carrier's stock valued at $377,000 after acquiring an additional 234 shares during the period. Clearstead Trust LLC raised its stake in Verizon Communications by 2.5% in the 4th quarter. Clearstead Trust LLC now owns 9,788 shares of the cell phone carrier's stock valued at $399,000 after acquiring an additional 240 shares during the period. Finally, CWS Financial Advisors LLC raised its stake in Verizon Communications by 1.7% in the 4th quarter. CWS Financial Advisors LLC now owns 14,891 shares of the cell phone carrier's stock valued at $607,000 after acquiring an additional 246 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon unveiled simpler wireless plans, eliminated activation and upgrade fees, and launched a new loyalty program that could improve customer retention and reduce churn. Reuters article on Verizon simpler plans and fees
• Positive Sentiment: Verizon completed the expiration and final results process for its note exchange and tender offers, a debt-management step that may be viewed as supportive of balance-sheet flexibility. Verizon private exchange offers result article
• Neutral Sentiment: Analysts and market commentary said Verizon may be undervalued based on its share price versus earnings and cash-generating telecom operations, but this was more valuation commentary than a fresh catalyst. Yahoo Finance undervalued article
• Negative Sentiment: Despite the new customer initiatives, Verizon’s stock has lagged the broader market in recent trading, with investors possibly worried that heavier competition and fee cuts could pressure profitability. Yahoo Finance falls more steeply article

Analyst Upgrades and Downgrades

A number of research analysts have commented on VZ shares. JPMorgan Chase & Co. upped their price objective on Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. Scotiabank raised Verizon Communications from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $50.25 to $54.50 in a report on Monday, March 9th. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Finally, Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.59.

Verizon Communications Stock Performance

NYSE:VZ opened at $45.86 on Thursday. The stock's 50-day simple moving average is $47.03 and its 200 day simple moving average is $45.63. The firm has a market capitalization of $191.50 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24. 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 twelve month low of $38.39 and a twelve month high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.7075 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications's dividend payout ratio (DPR) is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.