Verizon Communications Inc. $VZ Shares Purchased by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management increased its Verizon stake by 3.3% in the second quarter, buying 30,035 additional shares to hold 939,830 shares worth approximately $39.8 million. Institutional investors collectively own 62.06% of Verizon.
• Analysts remain broadly cautious, with nine Buy ratings and twelve Hold ratings producing a consensus rating of Hold and an average price target of $50.84. Recent target increases included JPMorgan’s move to $52 and Scotiabank’s move to $52.50.
• Verizon’s latest quarterly results beat earnings expectations, reporting $1.30 in EPS versus a $1.27 estimate, though revenue fell 0.7% year over year. The company also pays a quarterly dividend of $0.7075, equal to a 6.0% annualized yield.

Wilsey Asset Management Inc. raised its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 939,830 shares of the cell phone carrier's stock after buying an additional 30,035 shares during the period. Verizon Communications comprises about 5.8% of Wilsey Asset Management Inc.'s portfolio, making the stock its 8th largest holding. Wilsey Asset Management Inc.'s holdings in Verizon Communications were worth $39,792,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 539 shares in the last quarter. Robinswood Financial LLC purchased a new position in Verizon Communications in the 1st quarter valued at $27,000. Lam Group Inc. purchased a new position in Verizon Communications in the 1st quarter valued at $28,000. EQ Wealth Advisors LLC acquired a new stake in Verizon Communications during the 4th quarter worth $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its stake in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after purchasing an additional 448 shares during the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VZ. Royal Bank Of Canada upped their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a report on Monday, July 27th. Erste Group Bank reissued a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Weiss Ratings restated a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. Scotiabank increased their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $50.84.

Verizon Communications Stock Up 0.9%

Shares of VZ opened at $46.89 on Friday. The company's 50-day moving average price is $45.20 and its 200 day moving average price is $46.70. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm has a market cap of $194.80 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.29 and a beta of 0.25.

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, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. Verizon Communications's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.0%. The ex-dividend date was Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is 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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