Ritholtz Wealth Management Boosts Stake in Verizon Communications Inc. $VZ

Ritholtz Wealth Management lifted its position in Verizon Communications Inc. (NYSE:VZ) by 20.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,881 shares of the cell phone carrier’s stock after acquiring an additional 38,530 shares during the period. Ritholtz Wealth Management’s holdings in Verizon Communications were worth $11,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VZ. Avanza Fonder AB raised its position in shares of Verizon Communications by 5.6% in the 4th quarter. Avanza Fonder AB now owns 331,962 shares of the cell phone carrier’s stock worth $13,521,000 after purchasing an additional 17,495 shares during the last quarter. Econ Financial Services Corp grew its position in 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 during the last quarter. Teacher Retirement System of Texas grew its position in Verizon Communications by 41.0% during the 4th quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier’s stock valued at $89,499,000 after purchasing an additional 639,380 shares during the last quarter. Clarity Financial LLC increased its stake in Verizon Communications by 697.0% during the 4th quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock valued at $19,189,000 after purchasing an additional 412,018 shares in the last quarter. Finally, Cibc World Market Inc. increased its stake in Verizon Communications by 15.3% during the 4th quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after purchasing an additional 316,854 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

More Verizon Communications News

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

• Negative Sentiment: Alphabet will join the Dow Jones Industrial Average, replacing Verizon, which may weigh on sentiment as Verizon loses a prestigious index position. Alphabet added to Dow Jones Industrial Average, replacing Verizon
• Negative Sentiment: Verizon is leaving the Dow partly because its low share price gave it an “immaterial impact” on the index, highlighting its limited influence in the benchmark. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.
• Neutral Sentiment: Verizon launched new wireless plans focused on affordability and simplicity to stem subscriber losses, which could help stabilize the business but also underscores competitive pressure. Verizon (VZ) Launches Simplicity And Verizon One Plans To Win Back Subscribers
• Neutral Sentiment: Despite the stock’s weakness, some investors continue to view Verizon as a defensive dividend name with an attractive yield. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today

Analysts Set New Price Targets

Several research analysts have recently issued reports on VZ shares. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $50.25 to $54.50 in a research report on Monday, March 9th. Oppenheimer boosted their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Thursday, March 12th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Price Performance

VZ opened at $45.70 on Thursday. The company’s 50-day simple moving average is $46.89 and its two-hundred day simple moving average is $45.80. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. The stock has a market capitalization of $190.82 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.14 and a beta of 0.24. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping 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 firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio (DPR) is currently 69.02%.

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.