Meiji Yasuda Asset Management Co Ltd. Raises Holdings in Verizon Communications Inc. $VZ

Meiji Yasuda Asset Management Co Ltd. boosted its position in Verizon Communications Inc. (NYSE:VZFree Report) by 2.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 615,136 shares of the cell phone carrier’s stock after acquiring an additional 12,655 shares during the period. Verizon Communications makes up about 1.3% of Meiji Yasuda Asset Management Co Ltd.’s portfolio, making the stock its 9th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Verizon Communications were worth $27,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. SBI Securities Co. Ltd. increased its holdings in shares of Verizon Communications by 4.3% in the third quarter. SBI Securities Co. Ltd. now owns 335,856 shares of the cell phone carrier’s stock valued at $14,761,000 after purchasing an additional 13,787 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in shares of Verizon Communications by 14.0% in the third quarter. Stratos Wealth Partners LTD. now owns 379,174 shares of the cell phone carrier’s stock valued at $16,665,000 after purchasing an additional 46,699 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Verizon Communications by 18.4% during the 3rd quarter. Wedbush Securities Inc. now owns 140,981 shares of the cell phone carrier’s stock worth $6,196,000 after buying an additional 21,915 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Verizon Communications by 2.8% during the 3rd quarter. Assetmark Inc. now owns 3,667,402 shares of the cell phone carrier’s stock worth $161,182,000 after buying an additional 99,400 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Verizon Communications by 378.7% during the 3rd quarter. CWA Asset Management Group LLC now owns 93,732 shares of the cell phone carrier’s stock worth $4,120,000 after buying an additional 74,151 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Down 0.0%

VZ stock opened at $51.17 on Friday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.41. The company has a market capitalization of $215.82 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.31. The company’s 50-day simple moving average is $44.40 and its 200 day simple moving average is $42.60. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $36.38 billion during the quarter, compared to analysts’ expectations of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, sell-side analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a $0.7075 dividend. The ex-dividend date is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.5%. Verizon Communications’s dividend payout ratio (DPR) is presently 68.15%.

Insider Activity

In related news, Director Hans Erik Vestberg sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director directly owned 145,069 shares in the company, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total value of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. This represents a 16.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 218,148 shares of company stock worth $10,780,356. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research reports. Citigroup upped their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Monday, February 2nd. Morgan Stanley increased their target price on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Finally, Scotiabank lifted their price target on Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $49.02.

Check Out Our Latest Report on VZ

Verizon Communications News Summary

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

About Verizon Communications

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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