Bleakley Financial Group LLC Acquires 21,944 Shares of Verizon Communications Inc. $VZ

Bleakley Financial Group LLC lifted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 12.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 193,077 shares of the cell phone carrier’s stock after acquiring an additional 21,944 shares during the quarter. Bleakley Financial Group LLC’s holdings in Verizon Communications were worth $9,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Strengthening Families & Communities LLC grew its position in shares of Verizon Communications by 490.0% in the fourth 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 bought a new stake in shares of Verizon Communications during the 4th quarter valued at $28,000. Lam Group Inc. purchased a new stake in Verizon Communications during the 1st quarter worth about $28,000. EQ Wealth Advisors LLC purchased a new stake in Verizon Communications during the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its stake in Verizon Communications by 173.0% in 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 period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon launched the new Gizmo Watch 4, a kid-friendly smartwatch with safety features like removal detection and real-time location tracking, which could help expand the company’s Verizon Family ecosystem and add wireless subscribers. Meet the Gizmo Watch 4: Verizon’s new kid-friendly smartwatch
• Positive Sentiment: Verizon announced it will power new BMW Group vehicles in the U.S. with 5G Standalone, broadening its automotive connectivity business and potentially creating a new growth avenue in connected-car services. Can Verizon’s KDDI Tie-Up for Latest BMW Vehicles Boost Its Profits?
• Positive Sentiment: Coverage highlighting Verizon as a defensive, high-yield dividend stock and “cash machine” may be supporting demand from income-focused investors seeking stability ahead of market volatility. The Cash Machine The Market Put On Sale: VZ
• Neutral Sentiment: Investors are also watching Verizon’s earnings report next week, which could become the main near-term catalyst for the stock depending on subscriber growth, pricing trends, and guidance. Should You Buy Verizon Communications Stock Before July 24?
• Neutral Sentiment: Verizon also spotlighted its Small Business Super Pitch finalists, a brand and community-relations initiative that is positive for image but likely limited in immediate financial impact. Four small businesses to compete in finals of Verizon’s Small Business Super Pitch

Analysts Set New Price Targets

A number of research analysts have weighed in on VZ shares. Barclays reduced their target price on Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Wells Fargo & Company assumed coverage on shares of Verizon Communications in a research report on Wednesday, July 8th. They issued an “equal weight” rating and a $43.00 price objective for the company. Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Morgan Stanley boosted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.28.

Verizon Communications Stock Performance

NYSE VZ opened at $42.64 on Tuesday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. 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 company has a market capitalization of $178.05 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.03 and a beta of 0.26. The company has a fifty day moving average of $46.00 and a 200-day moving average of $46.03.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the prior 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. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.6%. Verizon Communications’s dividend payout ratio is 69.02%.

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.