Jennison Associates LLC Sells 175,952 Shares of Verizon Communications Inc. $VZ

Key Points

• Jennison Associates LLC reduced its Verizon stake by 13.2% in the first quarter, selling 175,952 shares and ending with 1,155,460 shares valued at about $58.0 million.
• Verizon’s stock was trading near $43.57, with the company carrying a market cap of about $181.9 billion and a dividend yield of 6.5%. Its latest quarterly dividend is $0.7075 per share.
• Verizon beat earnings expectations in its latest quarter, reporting $1.28 EPS versus the $1.21 estimate, though revenue came in slightly below forecasts. Analysts currently have a consensus rating of Hold with an average target price of $50.09.

Jennison Associates LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,155,460 shares of the cell phone carrier's stock after selling 175,952 shares during the quarter. Jennison Associates LLC's holdings in Verizon Communications were worth $58,004,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its position in Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after buying an additional 16,704 shares in the last quarter. United Bank lifted its position in shares of Verizon Communications by 11.5% during the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after buying an additional 806 shares in the last quarter. Jump Financial LLC lifted its position in shares of Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after buying an additional 17,901 shares in the last quarter. HUB Investment Partners LLC grew its stake in shares of Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock valued at $1,779,000 after acquiring an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP grew its stake in shares of Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock valued at $389,000 after acquiring an additional 443 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Trading Down 0.1%

Verizon Communications stock opened at $43.57 on Monday. The stock has a market cap of $181.91 billion, a P/E ratio of 10.63, a PEG ratio of 1.07 and a beta of 0.26. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm's 50 day moving average price is $45.67 and its 200-day moving average price is $46.11.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 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 firm had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The company'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 analysts predict that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company initiated coverage on shares of Verizon Communications in a research note on Wednesday, July 8th. They set an "equal weight" rating and a $43.00 target price on the stock. Dbs Bank lowered shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research note on Friday, June 12th. Scotiabank reduced their price objective on shares of Verizon Communications from $54.50 to $51.50 and set a "sector outperform" rating for the company in a research note on Wednesday, July 15th. Finally, BNP Paribas Exane decreased their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $50.09.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon is moving to sell 274 company-owned retail stores to franchisees and cut roughly 3,000 jobs, a restructuring that could lower operating costs and improve margins over time. Reuters: Verizon to shed 274 stores, lay off another 500 corporate employees
• Positive Sentiment: Market reaction has been favorable to the cost-reset story, with articles noting VZ rose as investors responded to the store shakeup and expense reduction plans. Yahoo Finance: VZ Stock Rises — Verizon Moves To Slash Costs With Major Store Shakeup
• Neutral Sentiment: Erste Group Bank slightly raised its FY2026 earnings estimate for Verizon and kept a Hold rating, suggesting only modest near-term earnings improvement. MarketBeat analyst update
• Neutral Sentiment: Verizon is expected to report earnings on Friday, which keeps investors focused on whether the restructuring and broadband growth can offset slower revenue trends. American Banking News: Verizon Communications (VZ) to Post Earnings on Friday
• Negative Sentiment: Some analysts are cautioning that Verizon already trades at a premium relative to peers, which could limit upside if earnings growth disappoints. Trefis: VZ Earns Its Premium Over Peers. Now What?
• Negative Sentiment: Scotiabank also lowered its price target to $51.50, reflecting some skepticism about the pace of Verizon’s improvement. American Banking News: Verizon Communications NYSE: VZ Price Target Lowered to $51.50 at Scotiabank

Verizon Communications Company 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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