Meiji Yasuda Life Insurance Co Lowers Stake in Verizon Communications Inc. $VZ

Key Points

• Meiji Yasuda Life Insurance Co reduced its stake in Verizon Communications by 21.7%, selling 9,209 shares during the first quarter, now holding shares worth $1.51 million.
• Despite the reduction from Meiji, other large investors like GQG Partners and Nuveen LLC increased their holdings significantly in Verizon during the same period, signaling continued institutional interest.
• Verizon recently announced a dividend increase to $0.69 per share, representing a yield of 6.4%, which reflects the company's commitment to returning value to shareholders.

Meiji Yasuda Life Insurance Co lowered its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,296 shares of the cell phone carrier's stock after selling 9,209 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Verizon Communications were worth $1,510,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in VZ. GQG Partners LLC lifted its holdings in Verizon Communications by 303.9% during the first quarter. GQG Partners LLC now owns 49,859,967 shares of the cell phone carrier's stock valued at $2,261,648,000 after purchasing an additional 37,516,167 shares in the last quarter. Nuveen LLC purchased a new position in Verizon Communications during the first quarter valued at approximately $661,720,000. Pacer Advisors Inc. lifted its holdings in Verizon Communications by 737.5% during the first quarter. Pacer Advisors Inc. now owns 11,697,003 shares of the cell phone carrier's stock valued at $530,576,000 after purchasing an additional 10,300,369 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Verizon Communications by 20.6% during the first quarter. Goldman Sachs Group Inc. now owns 31,626,373 shares of the cell phone carrier's stock valued at $1,434,572,000 after purchasing an additional 5,392,416 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Verizon Communications by 13.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,893,487 shares of the cell phone carrier's stock valued at $1,555,351,000 after purchasing an additional 4,568,518 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company's stock.

Verizon Communications Price Performance

VZ stock opened at $43.32 on Tuesday. Verizon Communications Inc. has a 52 week low of $37.58 and a 52 week high of $47.35. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. The company has a fifty day simple moving average of $43.20 and a two-hundred day simple moving average of $43.37. The firm has a market capitalization of $182.66 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion during the quarter, compared to analyst estimates of $33.47 billion. During the same quarter last year, the business earned $1.15 earnings per share. Verizon Communications's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 6.4%. This is an increase from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. Verizon Communications's dividend payout ratio (DPR) is 63.17%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They issued a "buy" rating and a $49.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of "Moderate Buy" and an average target price of $47.65.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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