Miller Howard Investments Inc. NY Has $55.09 Million Stock Position in Verizon Communications Inc. $VZ

Key Points

• Miller Howard Investments Inc. NY increased its Verizon stake by 37.1% in the first quarter, buying 297,010 more shares and bringing its total holding to 1,097,506 shares worth about $55.1 million.
• Verizon reported better-than-expected earnings for the quarter, with EPS of $1.28 versus estimates of $1.21, and revenue rose 2.7% year over year to $34.44 billion.
• Two notable developments could affect sentiment: Verizon launched new wireless plans, Simplicity and Verizon One, to attract subscribers, but Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29.

Miller Howard Investments Inc. NY lifted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 37.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,097,506 shares of the cell phone carrier's stock after buying an additional 297,010 shares during the period. Verizon Communications comprises 1.5% of Miller Howard Investments Inc. NY's holdings, making the stock its 25th largest position. Miller Howard Investments Inc. NY's holdings in Verizon Communications were worth $55,095,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Strengthening Families & Communities LLC grew its stake in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth about $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Verizon Communications during the third quarter worth about $29,000. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors grew its position in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon launched two new wireless offerings, Simplicity and Verizon One, to win back subscribers with simpler pricing and bundled mobile/home internet plans. That could help stabilize churn and support future revenue growth. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Verizon has been a trending stock on Zacks, which suggests elevated investor interest, but the item itself does not point to a specific fundamental catalyst. Verizon Communications Inc. (VZ) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29. Being removed from the DJIA can weigh on sentiment because it reduces index visibility and is often interpreted as a relative loss of blue-chip status. Google-Parent Alphabet to Replace Verizon in Dow Jones Industrial Average

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Barclays lifted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 31st. Dbs Bank cut shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Oppenheimer increased their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 11th. Finally, Wells Fargo & Company raised their price objective on shares of Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and a consensus price target of $50.59.

Verizon Communications Stock Up 3.1%

NYSE:VZ opened at $46.78 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The company has a market cap of $195.33 billion, a PE ratio of 11.41, a PEG ratio of 1.11 and a beta of 0.24. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The stock has a 50-day simple moving average of $46.89 and a 200 day simple moving average of $45.77.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.07. The business had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, sell-side analysts expect that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.0%. Verizon Communications's dividend payout ratio (DPR) is 69.02%.

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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