Pinkerton Wealth LLC Acquires New Shares in Verizon Communications Inc. $VZ

Key Points

• Pinkerton Wealth LLC acquired 136,831 Verizon shares worth approximately $5.8 million in the second quarter, making Verizon its 26th-largest holding and 0.5% of its portfolio. Institutional investors collectively own 62.06% of the company.
• Verizon reported quarterly EPS of $1.30, beating estimates of $1.27, while revenue fell 0.7% year over year to $34.25 billion. The stock recently traded at $48.15, with analysts holding a consensus “Hold” rating and an average price target of $50.84.
• Verizon maintains an annualized dividend of $2.83 per share, equivalent to a 5.9% yield, though its payout ratio is relatively high at 73.7%.

Pinkerton Wealth LLC bought a new stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 136,831 shares of the cell phone carrier's stock, valued at approximately $5,793,000. Verizon Communications comprises 0.5% of Pinkerton Wealth LLC's investment portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased 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 buying an additional 5,497,598 shares in the last quarter. State Street Corp lifted its stake 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 during the period. Charles Schwab Investment Management Inc. boosted 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 valued at $4,747,930,000 after acquiring an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier's stock valued at $4,168,080,000 after acquiring an additional 867,694 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock valued at $3,117,471,000 after acquiring an additional 8,289,877 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Trading Down 0.7%

Verizon Communications stock opened at $48.15 on Tuesday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The company has a market cap of $200.05 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.35 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The business has a 50-day simple moving average of $45.35 and a two-hundred day simple moving average of $47.11.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analysts' expectations of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications's dividend payout ratio is currently 73.70%.

Wall Street Analyst Weigh In

VZ has been the subject of several research reports. Moffett Nathanson decreased their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. TD Cowen raised their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Scotiabank lifted their target price on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research report on Monday, July 27th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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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