Verizon Communications Inc. $VZ Shares Sold by Conning Inc.

Key Points

• Conning Inc. cut its Verizon stake by 13.6% in the first quarter, selling 116,160 shares and leaving it with 736,463 shares worth about $37 million.
• Verizon remains widely held by institutions, with 62.06% of shares owned by hedge funds and other institutional investors, and several firms recently increased their positions.
• The company continues to draw positive attention for its 6.7% dividend yield, new BMW-related automotive connectivity deal through KDDI, and solid earnings momentum, though analysts overall still rate the stock a Hold.

Conning Inc. trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 736,463 shares of the cell phone carrier's stock after selling 116,160 shares during the period. Verizon Communications accounts for 1.2% of Conning Inc.'s portfolio, making the stock its 16th biggest position. Conning Inc.'s holdings in Verizon Communications were worth $36,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VZ. Avanza Fonder AB grew its holdings in Verizon Communications by 5.6% during the 4th quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier's stock worth $13,521,000 after acquiring an additional 17,495 shares during the period. Econ Financial Services Corp boosted its position in shares of Verizon Communications by 23.5% during the 4th quarter. Econ Financial Services Corp now owns 78,172 shares of the cell phone carrier's stock valued at $3,184,000 after purchasing an additional 14,862 shares in the last quarter. USS Investment Management Ltd boosted its position in shares of Verizon Communications by 4.6% during the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier's stock valued at $35,790,000 after purchasing an additional 31,354 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Verizon Communications by 41.0% during the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier's stock worth $89,499,000 after purchasing an additional 639,380 shares during the period. Finally, Clarity Financial LLC increased its holdings in Verizon Communications by 697.0% in the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier's stock worth $19,189,000 after purchasing an additional 412,018 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications News Summary

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon NYSE: VZ Dow Exit Deepens Starlink Market Pressure

Wall Street Analyst Weigh In

A number of research firms have issued reports on VZ. Morgan Stanley increased their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 28th. Freedom Capital upgraded shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Erste Group Bank reissued a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Citigroup lifted their price target on shares of Verizon Communications from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $50.28.

Verizon Communications Stock Down 0.2%

Shares of NYSE:VZ opened at $42.14 on Friday. The business's 50 day moving average is $46.10 and its 200 day moving average is $45.97. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock has a market cap of $175.95 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 1.03 and a beta of 0.26. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same period last year, the firm earned $1.19 earnings per share. The firm's revenue was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. Verizon Communications's payout ratio is presently 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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