Verizon Communications Inc. $VZ Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,765,427 shares of the cell phone carrier's stock after purchasing an additional 105,438 shares during the period. Assetmark Inc. owned about 0.09% of Verizon Communications worth $159,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter worth about $2,357,158,000. Bank of America Corp DE increased its holdings in shares of Verizon Communications by 15.4% in 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. Bank of New York Mellon Corp raised its position in shares of 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 worth $1,286,423,000 after acquiring an additional 7,509,055 shares in the last quarter. State Street Corp raised its position in shares of 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 worth $9,080,810,000 after acquiring an additional 7,461,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Verizon Communications by 5.3% during the fourth 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 purchasing an additional 5,851,715 shares during the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. BNP Paribas Exane lowered their target price on shares of Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. TD Cowen increased their target price on shares of Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Finally, Wells Fargo & Company lifted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications currently has an average rating of "Hold" and a consensus price target of $50.84.

Verizon Communications Stock Down 0.7%

VZ opened at $48.15 on Tuesday. The business has a 50 day moving average price of $45.35 and a two-hundred day moving average price of $47.11. 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 company has a market cap of $200.05 billion, a PE ratio of 12.54, a P/E/G ratio of 1.35 and a beta of 0.25. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last announced 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 company had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company's revenue was down .7% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, research analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is 73.70%.

Verizon Communications 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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