Sumitomo Mitsui Trust Group Inc. Sells 1,180,603 Shares of Verizon Communications Inc. $VZ

Key Points

• Sumitomo Mitsui Trust Group reduced its Verizon stake by 10.3%, selling 1,180,603 shares during the second quarter. It still held 10,283,100 shares valued at approximately $435.4 million, while institutional investors collectively owned 62.06% of Verizon.
• Verizon reported quarterly EPS of $1.30, beating estimates of $1.27, but revenue fell 0.7% year over year to $34.25 billion and missed expectations. The company maintains a quarterly dividend of $0.7075, equivalent to an annualized yield of about 5.8%.
• Analysts have a consensus “Hold” rating and an average price target of $50.84, modestly above the stock’s $48.50 opening price. Recent positive catalysts include potential AI-related fiber contracts and Verizon’s defensive, value-oriented profile.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,283,100 shares of the cell phone carrier's stock after selling 1,180,603 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Verizon Communications worth $435,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Verizon Communications by 1.5% during the fourth 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% in 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. Charles Schwab Investment Management Inc. boosted its position in 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 last quarter. Geode Capital Management LLC boosted its position in 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 worth $4,168,080,000 after acquiring an additional 867,694 shares during the last quarter. Finally, Bank of America Corp DE grew its stake 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 worth $3,117,471,000 after acquiring an additional 8,289,877 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Trading Up 0.0%

NYSE VZ opened at $48.50 on Monday. The company has a market cap of $201.51 billion, a PE ratio of 12.63, a PEG ratio of 1.35 and a beta of 0.25. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The stock has a 50 day moving average of $45.30 and a 200-day moving average of $47.05.

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

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders 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 yield of 5.8%. Verizon Communications's dividend payout ratio (DPR) is currently 73.70%.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon is using its fiber network to support AI-related connectivity, including a reported $1 billion-plus agreement with Google and potential additional hyperscaler contracts. These deals could create new enterprise revenue opportunities beyond traditional wireless services. Can AI Infrastructure Drive Verizon's Next Long-Term Growth?
• Positive Sentiment: Analysts continue to highlight Verizon as a value stock, supported by its relatively modest valuation, income potential and defensive telecommunications business. That profile may appeal to investors seeking stability while broader markets remain elevated. Here's Why Verizon Communications Is a Strong Value Stock
• Positive Sentiment: Verizon’s preparation for Tropical Storm Lala in Hawaii— including backup generators, satellite assets and pre-positioned equipment— reinforces network reliability and customer support, though the immediate financial impact is likely limited. Verizon Readies for Tropical Storm Lala
• Neutral Sentiment: A comparison with Nokia emphasizes Verizon’s connectivity strengths as both companies position for AI-driven telecom demand. The article does not identify a material change to Verizon’s near-term earnings outlook. Verizon vs. Nokia: Which Telecom Stock is the Better Buy Now?
• Negative Sentiment: Investors remain mindful that Verizon has returned substantial cash to shareholders while its stock has lagged the broader market. This raises questions about whether dividends and buybacks are producing sufficient shareholder value compared with reinvestment in growth. VZ Paid Holders $59 Billion While the Stock Trailed the Market

Analysts Set New Price Targets

VZ has been the topic of a number of research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. Scotiabank raised their target price on shares of Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a research report on Monday, July 27th. TD Cowen lifted their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Finally, Erste Group Bank restated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Hold" and a consensus 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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