LGT Fund Management Co Ltd. Purchases New Holdings in Verizon Communications Inc. $VZ

Key Points

• LGT Fund Management opened a new position in Verizon during the first quarter, buying 101,510 shares worth about $5.1 million.
• Institutional ownership of Verizon remains high, with several large investors such as Vanguard, State Street, and Charles Schwab increasing stakes; institutions now own 62.06% of the stock.
• Verizon recently reported better-than-expected earnings and reaffirmed full-year guidance, while also announcing a quarterly dividend of $0.7075 per share, implying a roughly 6.7% yield.

LGT Fund Management Co Ltd. purchased a new position in Verizon Communications Inc. (NYSE:VZ - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 101,510 shares of the cell phone carrier's stock, valued at approximately $5,096,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VZ. Norges Bank bought a new stake in Verizon Communications in the fourth quarter valued at approximately $2,357,158,000. Bank of New York Mellon Corp lifted its position in Verizon Communications by 31.2% during the fourth quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier's stock valued at $1,286,423,000 after purchasing an additional 7,509,055 shares during the period. State Street Corp boosted its position in Verizon Communications by 3.5% in 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $4,747,930,000 after buying an additional 5,851,715 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Verizon Communications by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock worth $15,453,058,000 after purchasing an additional 5,497,598 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon NYSE: VZ Dow Exit Deepens Starlink Market Pressure

Verizon Communications Trading Down 0.2%

Shares of NYSE:VZ traded down $0.10 during trading hours on Friday, hitting $42.14. 27,697,528 shares of the company's stock traded hands, compared to its average volume of 33,171,120. The firm has a market capitalization of $175.95 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.26. The business has a fifty day moving average price of $46.10 and a 200-day moving average price of $45.97. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. 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 (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period last year, the company earned $1.19 EPS. Verizon Communications'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. Equities analysts expect that Verizon Communications Inc. will post 4.98 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently declared 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. This represents a $2.83 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 69.02%.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of research reports. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Morgan Stanley increased their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 28th. Barclays dropped their price objective on shares of Verizon Communications from $47.00 to $45.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company initiated coverage on shares of Verizon Communications in a research report on Wednesday. They set an "equal weight" rating and a $43.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $50.28.

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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