Verizon Communications Inc. $VZ Shares Acquired by KMG Fiduciary Partners LLC

Key Points

• KMG Fiduciary Partners increased its Verizon stake by 22.4% in the second quarter, bringing its holdings to 123,234 shares valued at approximately $5.2 million. Institutional investors and hedge funds collectively own 62.06% of Verizon’s stock.
• Analysts raised several price targets, but Verizon retains a consensus “Hold” rating with an average target price of $50.84, compared with shares trading near $47.02.
• Verizon exceeded quarterly earnings expectations with adjusted EPS of $1.30, though revenue declined 0.7% year over year to $34.25 billion. The company also paid a quarterly dividend of $0.7075 per share, representing a roughly 6.0% annualized yield.

KMG Fiduciary Partners LLC increased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 22.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,234 shares of the cell phone carrier's stock after buying an additional 22,554 shares during the period. KMG Fiduciary Partners LLC's holdings in Verizon Communications were worth $5,218,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after purchasing an additional 16,704 shares during the last quarter. United Bank raised its position in shares of Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after purchasing an additional 806 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after buying an additional 17,901 shares during the last quarter. HUB Investment Partners LLC boosted its stake in shares of Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock valued at $1,779,000 after buying an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP grew its position in shares of Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VZ. Morgan Stanley lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. TD Cowen increased their price objective 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. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research note on Friday, June 12th. Finally, Scotiabank upped 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 note on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications currently has a consensus rating of "Hold" and an average target price of $50.84.

Verizon Communications Trading Down 0.1%

NYSE:VZ opened at $47.02 on Tuesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The firm has a market capitalization of $195.36 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.31 and a beta of 0.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The business has a 50 day simple moving average of $45.17 and a 200 day simple moving average of $46.81.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its earnings results 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 analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities research analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.7075 per share. The ex-dividend date was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. Verizon Communications's dividend payout ratio is currently 73.70%.

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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