Palouse Capital Management Inc. Invests $2.64 Million in Verizon Communications Inc. $VZ

Palouse Capital Management Inc. purchased a new stake in Verizon Communications Inc. (NYSE:VZ) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 60,005 shares of the cell phone carrier’s stock, valued at approximately $2,637,000. Verizon Communications makes up about 1.7% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Vanguard Group Inc. increased its holdings in Verizon Communications by 1.3% in the second quarter. Vanguard Group Inc. now owns 372,787,016 shares of the cell phone carrier’s stock valued at $16,130,494,000 after buying an additional 4,615,075 shares in the last quarter. State Street Corp grew its holdings in shares of Verizon Communications by 2.1% in the 2nd quarter. State Street Corp now owns 208,213,255 shares of the cell phone carrier’s stock worth $9,009,388,000 after acquiring an additional 4,205,449 shares during the period. Geode Capital Management LLC grew its holdings in shares of Verizon Communications by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 100,326,792 shares of the cell phone carrier’s stock worth $4,322,700,000 after acquiring an additional 1,101,504 shares during the period. Norges Bank purchased a new position in Verizon Communications in the 2nd quarter valued at approximately $2,504,150,000. Finally, California Public Employees Retirement System raised its holdings in Verizon Communications by 21.5% during the second quarter. California Public Employees Retirement System now owns 21,159,040 shares of the cell phone carrier’s stock worth $915,552,000 after purchasing an additional 3,743,892 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

More Verizon Communications News

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

• Positive Sentiment: Institutional and analyst support — Large fund buying and recent buy ratings/prices targets from major firms signal conviction from professional investors, which can underpin the stock. QuiverQuant notes big Q3-position increases from UBS, BlackRock and others and several recent buy ratings and $44–$51 analyst targets. Verizon Communications Stock (VZ) Opinions on Job Cuts and Earnings Outlook
• Positive Sentiment: High dividend yield and cash-flow profile — Coverage highlights Verizon’s ~7% yield and strong cash flow forecasts, making the stock attractive to income-focused investors, especially if interest rates ease. Here’s My Top High-Yield Dividend Stock to Buy in January
• Positive Sentiment: Macro tailwind possibility — A Fed governor publicly pushing for sizable rate cuts this year raises the prospect of lower rates, which tends to benefit high-dividend, low-volatility stocks like Verizon. Fed Governor Wants Huge Rate Cuts This Year: 5 High-Yield Dividend Stocks to Buy Today
• Neutral Sentiment: Growth initiatives under watch — Coverage on Verizon’s Event Perks loyalty efforts and industrial IoT push flags potential incremental revenue/enterprise opportunities; impact depends on execution and scale. Should Verizon’s Event Perks and Industrial IoT Push Require Action From Verizon Communications (VZ) Investors?
• Neutral Sentiment: Mixed value proposition — Analysts and commentators note mixed recent returns but argue the stock may offer value given steady cash flow; view depends on whether investors prioritize yield vs. growth. Is Verizon (VZ) Offering Value After Mixed Returns And Strong Cash Flow Forecasts?
• Negative Sentiment: Job cuts and social-media criticism — Reports of large-scale layoffs (thousands) and online concern about service quality and dividend sustainability create short-term investor uncertainty and reputational risk; restructuring can also trigger near-term charges even if it improves margins later. Verizon Communications Stock (VZ) Opinions on Job Cuts and Earnings Outlook
• Negative Sentiment: Upcoming earnings/Risk of guidance disappointments — Market attention ahead of the Jan 30 report raises the chance of volatility if Verizon’s revenue or guidance misses expectations. Zacks notes the stock recently outpaced the market intraday, but earnings execution remains the primary near-term catalyst. Why Verizon Communications (VZ) Outpaced the Stock Market Today

Verizon Communications Stock Performance

Shares of VZ opened at $40.56 on Friday. Verizon Communications Inc. has a 1 year low of $10.60 and a 1 year high of $47.35. The company’s 50 day simple moving average is $40.53 and its 200 day simple moving average is $41.90. The company has a market capitalization of $171.00 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 3.48 and a beta of 0.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.74.

Verizon Communications (NYSE:VZ) last released its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.19 by $0.02. The firm had revenue of $33.82 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. Verizon Communications’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 6.8%. The ex-dividend date is Monday, January 12th. Verizon Communications’s dividend payout ratio is presently 58.97%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on VZ shares. JPMorgan Chase & Co. dropped their price target on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Weiss Ratings downgraded shares of Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. BNP Paribas cut shares of Verizon Communications from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada lowered their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th. Finally, Wall Street Zen cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned 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 target price of $47.47.

Verizon Communications 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.