Verizon Communications Inc. $VZ Shares Purchased by Keybank National Association OH

Key Points

• Keybank National Association OH increased its Verizon stake by 4.4% in the first quarter, ending with 655,184 shares valued at about $32.9 million.
• Several Wall Street firms recently raised their price targets on Verizon, and the stock now carries a consensus “Moderate Buy” rating with an average target price of $50.59.
• Verizon reported Q1 EPS of $1.28, topping estimates, and it reaffirmed a full-year EPS outlook of 4.95 to 4.99. The company also declared a quarterly dividend of $0.7075 per share, equal to a 6.6% yield.

Keybank National Association OH boosted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,184 shares of the cell phone carrier's stock after acquiring an additional 27,888 shares during the quarter. Keybank National Association OH's holdings in Verizon Communications were worth $32,890,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Lam Group Inc. purchased a new position in shares of Verizon Communications in the first quarter valued at $28,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Verizon Communications during the 3rd quarter worth $29,000. Strengthening Families & Communities LLC increased its stake in Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after buying an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new position in Verizon Communications in the 4th quarter worth $28,000. Finally, EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the 4th quarter worth $29,000. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VZ. Wells Fargo & Company raised their target price on Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Barclays boosted their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 31st. Scotiabank raised Verizon Communications from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $50.25 to $54.50 in a report on Monday, March 9th. Oppenheimer raised their price objective on Verizon Communications from $50.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, March 11th. Finally, Morgan Stanley lifted their price objective on Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.59.

More Verizon Communications News

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

• Positive Sentiment: Analysts and market commentary continue to frame Verizon as an attractive value stock, with Zacks citing favorable style-score characteristics that may appeal to value-focused investors. Here's Why Verizon Communications (VZ) is a Strong Value Stock
• Positive Sentiment: Verizon’s dividend profile is still a key support for the shares, with comparisons to AT&T emphasizing Verizon’s long record of dividend increases and its appeal to income investors. Better High-Yield Dividend Stock: Verizon or AT&T?
• Positive Sentiment: Verizon and BT Group announced a $4 billion international enterprise joint venture, which could expand Verizon’s global business services reach and improve growth prospects. Is Verizon Communications Inc. (VZ) Stock Positioned for Growth After $4B International Enterprise Partnership?
• Neutral Sentiment: Verizon is getting more trading attention from retail investors, which may reflect renewed interest but does not by itself change the company’s fundamentals. Verizon Communications Inc. (VZ) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street expects Verizon’s upcoming quarterly earnings to show modest profit growth, making the next report an important catalyst but not a clear surprise yet. What to Expect From Verizon Communications' Next Quarterly Earnings Report
• Negative Sentiment: Coverage about Starlink’s push into mobile service raises longer-term competitive pressure on Verizon and other wireless carriers, even though major infrastructure hurdles remain. Starlink Dominates Internet From Space. Can It Disrupt AT&T and Verizon on the Ground?

Verizon Communications Stock Performance

Shares of VZ stock opened at $42.57 on Friday. The stock has a market capitalization of $177.77 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.04 and a beta of 0.26. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company's 50-day simple moving average is $46.56 and its 200-day simple moving average is $45.91. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion for the quarter, compared to analysts' expectations 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 in the prior year, the firm posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Equities analysts anticipate that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications's dividend payout ratio 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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