Corundum Group Inc. Purchases New Stake in Verizon Communications Inc. $VZ

Corundum Group Inc. acquired a new position in Verizon Communications Inc. (NYSE:VZ) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,822 shares of the cell phone carrier’s stock, valued at approximately $844,000.

A number of other hedge funds have also made changes to their positions in the business. Strengthening Families & Communities LLC increased its holdings in Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in shares of Verizon Communications in the fourth quarter worth about $28,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Verizon Communications in the third quarter valued at about $29,000. EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position 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 acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the subject of a number of analyst reports. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price objective on shares of Verizon Communications in a research note on Thursday, March 12th. Citigroup upped their target price 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. Oppenheimer upped their target price on shares of 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 raised their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $45.70 on Thursday. 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 Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The business has a 50 day moving average price of $46.89 and a two-hundred day moving average price of $45.80. The firm has a market cap of $190.82 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.Verizon Communications’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Key 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

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.