MGO One Seven LLC Buys 167,073 Shares of Verizon Communications Inc. $VZ

Key Points

• MGO One Seven LLC increased its Verizon stake by 68.8% in the second quarter, adding 167,073 shares to hold 410,019 shares valued at approximately $17.36 million.
• Verizon reported quarterly EPS of $1.30, exceeding estimates of $1.27, while revenue of $34.25 billion fell short of forecasts and declined 0.7% year over year.
• Verizon’s shares opened at $48.63, and the company maintains a quarterly dividend of $0.7075, equivalent to a 5.8% annualized yield. Analysts have a consensus “Hold” rating and an average price target of $50.84.

MGO One Seven LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 68.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 410,019 shares of the cell phone carrier's stock after purchasing an additional 167,073 shares during the period. MGO One Seven LLC's holdings in Verizon Communications were worth $17,360,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Verizon Communications in the fourth quarter worth about $2,357,158,000. Bank of America Corp DE lifted its holdings in Verizon Communications by 15.4% in the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock worth $3,117,471,000 after buying an additional 8,289,877 shares during the period. Bank of New York Mellon Corp boosted its position in Verizon Communications by 31.2% during the 4th 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 acquiring an additional 7,509,055 shares in the last quarter. State Street Corp boosted its position in Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock valued at $9,080,810,000 after acquiring an additional 7,461,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Verizon Communications by 5.3% during the 4th 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 acquiring an additional 5,851,715 shares during the period. Institutional investors own 62.06% of the company's stock.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $48.63 on Wednesday. The stock has a market cap of $202.05 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.35 and a beta of 0.25. The firm's 50-day moving average is $45.41 and its 200 day moving average is $47.17. 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 1.36, a current ratio of 0.60 and a quick ratio of 0.57.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. The business had revenue of $34.25 billion during 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%. Verizon Communications's revenue was down .7% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Friday, July 10th. Verizon Communications's payout ratio is presently 73.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VZ shares. Morgan Stanley increased their target price on Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. Wells Fargo & Company lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Royal Bank Of Canada upped 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, July 27th. TD Cowen increased their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Moffett Nathanson lowered their price objective on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications has an average rating of "Hold" and a consensus target price of $50.84.

About Verizon Communications

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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