Rakuten Investment Management Inc. Has $30.13 Million Stake in Verizon Communications Inc. $VZ

Rakuten Investment Management Inc. raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.2% during the second quarter, HoldingsChannel.com reports. The fund owned 683,214 shares of the cell phone carrier’s stock after buying an additional 57,398 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Verizon Communications were worth $30,130,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. USS Investment Management Ltd boosted its holdings in shares of Verizon Communications by 4.6% during the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier’s stock worth $35,790,000 after buying an additional 31,354 shares in the last quarter. Cornerstone Capital Inc. increased its stake in shares of Verizon Communications by 8.6% in the 2nd quarter. Cornerstone Capital Inc. now owns 317,284 shares of the cell phone carrier’s stock valued at $13,434,000 after acquiring an additional 25,156 shares in the last quarter. Cibc World Market Inc. increased its stake in shares of Verizon Communications by 15.3% in the 4th quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier’s stock valued at $97,059,000 after acquiring an additional 316,854 shares in the last quarter. University of Texas Texas AM Investment Management Co. lifted its position in shares of Verizon Communications by 127.0% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 184,170 shares of the cell phone carrier’s stock valued at $7,798,000 after acquiring an additional 103,046 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new position in shares of Verizon Communications during the 4th quarter valued at $2,171,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE VZ opened at $50.10 on Tuesday. The company has a fifty day simple moving average of $46.00 and a 200 day simple moving average of $47.44. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a market cap of $208.15 billion, a P/E ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The firm had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The business’s revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 73.70%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of research reports. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Moffett Nathanson dropped their price objective on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Scotiabank raised their target price on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Finally, Wells Fargo & Company boosted their target price on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and a consensus price target of $50.84.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer owned 108,766 shares of the company’s stock, valued at approximately $5,444,825.96. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by corporate insiders.

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.