Lazard Asset Management LLC Cuts Stock Position in Verizon Communications Inc. $VZ

Key Points

• Lazard Asset Management cut its Verizon position by 71.6% in the first quarter, selling 328,580 shares and retaining 130,591 shares valued at approximately $6.6 million. Other major institutions, including Vanguard, State Street and Charles Schwab, increased their holdings.
• Verizon reported quarterly EPS of $1.30, beating estimates of $1.27, but revenue of $34.25 billion missed expectations and fell 0.7% year over year. Analysts have a consensus “Hold” rating and an average price target of $50.84.
• Verizon offers a quarterly dividend of $0.7075 per share, equivalent to an annualized $2.83 and a yield of about 6.1%. Potential growth from fiber and AI infrastructure is offset by concerns about increased competition from SpaceX’s possible entry into the U.S. wireless market.

Lazard Asset Management LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,591 shares of the cell phone carrier's stock after selling 328,580 shares during the quarter. Lazard Asset Management LLC's holdings in Verizon Communications were worth $6,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Verizon Communications by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock valued at $15,453,058,000 after purchasing an additional 5,497,598 shares in the last quarter. State Street Corp increased its stake in shares of Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock worth $9,080,810,000 after purchasing an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Verizon Communications by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier's stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier's stock worth $4,168,080,000 after purchasing an additional 867,694 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Verizon Communications during the 4th quarter worth about $2,357,158,000. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Down 2.3%

Shares of NYSE VZ opened at $46.12 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock has a market cap of $192.59 billion, a PE ratio of 12.01, a P/E/G ratio of 1.32 and a beta of 0.26. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average of $45.35 and a 200 day moving average of $46.44.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share 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 analyst estimates 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 was down .7% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.1%. Verizon Communications's dividend payout ratio (DPR) is presently 73.70%.

More Verizon Communications News

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

• Positive Sentiment: Analysts continue to raise their expectations for Verizon. Morgan Stanley lifted its price target to $52, while TD Cowen raised its target to $56; Verizon also received an analyst upgrade. These actions reflect confidence in the company’s earnings outlook and recent operating performance. Verizon analyst upgrade
• Positive Sentiment: Verizon’s investment case is being supported by fiber expansion and emerging AI infrastructure demand. Bain Capital and Tillman Global Holdings announced a $1.5 billion investment in Eaton Fiber to accelerate broadband deployment, while a separate analysis cited a potential $1 billion-plus Google dark-fiber deal and data-center retrofits as possible sources of higher-margin growth beginning in the second half of 2026. Bain Capital and Tillman Global Holdings fiber investment
• Neutral Sentiment: Verizon remains viewed as inexpensive relative to telecom peers, trading at a significant forward-earnings discount while offering a dividend yield above 6%. However, investors are debating whether the discount represents value or reflects limited revenue growth. Recent earnings showed an EPS beat, but revenue declined year over year and missed expectations.
• Negative Sentiment: The primary pressure on VZ is concern that SpaceX could enter the U.S. wireless market by acquiring spectrum or participating in next year’s federal auction. A direct-to-mobile satellite service with dense urban coverage could intensify competition for Verizon, AT&T and T-Mobile, prompting a broad telecom selloff. SpaceX direct mobile threat

Analysts Set New Price Targets

Several research firms recently issued reports on VZ. Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. Freedom Capital upgraded Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Royal Bank Of Canada lifted their price target on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday. Dbs Bank cut Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $50.84.

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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