Meiji Yasuda Asset Management Co Ltd. Purchases 45,922 Shares of Verizon Communications Inc. $VZ

Key Points

• Meiji Yasuda Asset Management increased its Verizon stake by 8.1% in the second quarter, adding 45,922 shares to own 613,083 shares valued at approximately $26.0 million. Institutional investors collectively own 62.06% of Verizon.
• Verizon shares recently traded at $50.11, near their 12-month high, while the company reported quarterly EPS of $1.30—above estimates—but revenue of $34.25 billion declined 0.7% year over year.
• Verizon maintains an annualized dividend of $2.83 per share, representing a 5.6% yield. Wall Street’s consensus rating is “Hold,” with an average price target of $50.84.

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 613,083 shares of the cell phone carrier's stock after acquiring an additional 45,922 shares during the period. Verizon Communications makes up approximately 1.2% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 7th largest holding. Meiji Yasuda Asset Management Co Ltd.'s holdings in Verizon Communications were worth $25,958,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Verizon Communications by 61.2% in the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after purchasing an additional 16,704 shares in the last quarter. United Bank increased its holdings in Verizon Communications by 11.5% in 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 during the period. Jump Financial LLC raised its stake in shares of Verizon Communications by 312.0% in 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 raised its stake in shares of Verizon Communications by 17.2% in 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 buying an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP lifted its holdings 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 worth $389,000 after acquiring an additional 443 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Up 1.4%

Shares of Verizon Communications stock opened at $50.11 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 capitalization of $208.20 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.25. The company has a 50-day simple moving average of $45.91 and a 200 day simple moving average of $47.42. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. The firm 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 company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. Verizon Communications's payout ratio is 73.70%.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer directly owned 108,766 shares of the company's stock, valued at $5,444,825.96. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VZ has been the topic of several recent research reports. Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Moffett Nathanson cut their price target on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. TD Cowen lifted their price objective on Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a report on Monday, July 27th. BNP Paribas Exane dropped their target price on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Finally, Scotiabank raised their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target 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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