Carnegie Investment Counsel Purchases 30,698 Shares of Verizon Communications Inc. $VZ

Carnegie Investment Counsel boosted its position in Verizon Communications Inc. (NYSE:VZ) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 840,198 shares of the cell phone carrier’s stock after purchasing an additional 30,698 shares during the period. Carnegie Investment Counsel’s holdings in Verizon Communications were worth $39,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. UNIVEST FINANCIAL Corp lifted its stake in shares of Verizon Communications by 15.4% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 26,842 shares of the cell phone carrier’s stock worth $1,347,000 after purchasing an additional 3,576 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in Verizon Communications by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 553,850 shares of the cell phone carrier’s stock valued at $27,803,000 after buying an additional 10,373 shares during the period. Citizens Financial Group Inc. RI grew its position in Verizon Communications by 0.4% during the first quarter. Citizens Financial Group Inc. RI now owns 101,378 shares of the cell phone carrier’s stock valued at $5,089,000 after buying an additional 423 shares during the period. Midwest Trust Co increased its holdings in Verizon Communications by 4.4% during the first quarter. Midwest Trust Co now owns 585,802 shares of the cell phone carrier’s stock valued at $29,407,000 after buying an additional 24,581 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in Verizon Communications by 241.8% in the first quarter. Fifth Third Bancorp now owns 1,367,142 shares of the cell phone carrier’s stock worth $68,630,000 after acquiring an additional 967,166 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of Verizon Communications stock traded down $0.10 on Friday, hitting $42.14. 27,697,528 shares of the company traded hands, compared to its average volume of 33,171,120. The stock has a market capitalization of $175.95 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 1.03 and a beta of 0.26. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The business has a 50-day simple moving average of $46.10 and a 200 day simple moving average of $45.97.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. Verizon Communications’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts expect that Verizon Communications Inc. will post 4.98 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio is 69.02%.

Analyst Ratings Changes

A number of equities analysts recently commented on VZ shares. Dbs Bank cut Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Citigroup boosted their price objective on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wells Fargo & Company initiated coverage on shares of Verizon Communications in a report on Wednesday. They issued an “equal weight” rating and a $43.00 target price for the company. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. increased their price target on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.28.

Key Stories Impacting Verizon Communications

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

• Positive Sentiment: Verizon is being highlighted as a potentially attractive dividend stock, with Barron’s saying now may be a good time to buy income-oriented names like VZ as yields look more compelling. Why Verizon, Clorox and More Dividend Stocks Are Flashing a Buy Signal
• Positive Sentiment: Verizon won a new automotive connectivity contract through its KDDI partnership, becoming the U.S. connectivity provider for newly manufactured BMW Group vehicles, which could support growth in its enterprise and IoT business. Verizon named U.S. connectivity provider for newly manufactured BMW Group vehicles through KDDI partnership
• Positive Sentiment: Analysts also flagged Verizon as a telecom name worth owning, noting its fiber and wireless expansion strategy and suggesting it may have a good setup for its next earnings report. T or VZ: Which Telecom Stock Deserves a Place in Your Portfolio?
• Positive Sentiment: Another recent report said Verizon has a strong earnings surprise history and could beat estimates again, which tends to support investor confidence ahead of results. Will Verizon (VZ) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Goldman Sachs won asset-management mandates tied to Verizon’s retirement assets, but this is mainly a financial-services arrangement rather than an operational development for Verizon. Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
• Neutral Sentiment: Some broader commentary on enterprise internet reliability and telecom competition, including Starlink-related pressure, may add noise to the sector outlook, but it is not a direct negative catalyst for Verizon itself. Verizon (NYSE:VZ) Dow Exit Deepens Starlink Market Pressure

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.