Sumitomo Mitsui Trust Group Inc. Has $575.48 Million Holdings in Verizon Communications Inc. $VZ

Sumitomo Mitsui Trust Group Inc. lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 4.0% in the first quarter, HoldingsChannel reports. The firm owned 11,463,703 shares of the cell phone carrier’s stock after selling 478,206 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Verizon Communications were worth $575,478,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VZ. Brighton Jones LLC grew its holdings in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares during the period. United Bank raised its holdings in Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after purchasing an additional 806 shares during the period. Jump Financial LLC raised its holdings in Verizon Communications by 312.0% in the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after purchasing an additional 17,901 shares during the period. HUB Investment Partners LLC boosted its position in shares of Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after purchasing an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its position in shares of Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Down 0.3%

Verizon Communications stock opened at $42.47 on Thursday. The company has a 50 day moving average of $46.29 and a 200-day moving average of $45.98. 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 twelve month low of $38.39 and a twelve month high of $51.68. The stock has a market capitalization of $177.32 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.04 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared 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 of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. Verizon Communications’s dividend payout ratio (DPR) is currently 69.02%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VZ. 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 research report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Wells Fargo & Company initiated coverage on Verizon Communications in a research note on Wednesday. They issued an “equal weight” rating and a $43.00 target price for the company. Oppenheimer increased their price target on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Nine investment 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 company currently has a consensus rating of “Hold” and a consensus price target of $50.28.

Key Verizon Communications News

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

• Positive Sentiment: Wells Fargo assigned Verizon an equal weight rating with a $43 price target, which is slightly above recent trading levels and suggests limited downside from current prices. Benzinga coverage
• Positive Sentiment: Barclays kept an equal weight view and only modestly cut its target to $45, indicating analysts still see some fair value in the stock despite the pullback. Benzinga coverage
• Positive Sentiment: Recent coverage highlighted Verizon’s high-yield dividend appeal and argued the stock may still look attractive to income investors after its decline. 3 High-Yield Dividends That Pay You Soon (But You Must Act Quickly)
• Neutral Sentiment: BT Group and Verizon’s new 50:50 global enterprise joint venture is being watched as a possible boost to cash flow, but investors are still waiting to see the financial impact. BT–Verizon Joint Venture article
• Neutral Sentiment: Verizon continues to be viewed as a value stock after its pullback, with commentary noting broadband gains, AI initiatives, and convergence strategy could support longer-term growth. Verizon Stock Underperforms Industry in a Year: Buy, Sell or Hold?
• Negative Sentiment: Wells Fargo and other analysts flagged Starlink as a new competitive threat, raising concerns about pressure on Verizon’s fixed wireless and postpaid growth. SpaceX’s Starlink Puts Verizon, AT&T, and T-Mobile Under the Microscope
• Negative Sentiment: Several articles noted Verizon has underperformed peers and the broader industry over the past year, reinforcing the market’s cautious view. Zacks coverage

About Verizon Communications

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.