Investment Management Corp of Ontario Sells 69,665 Shares of Verizon Communications Inc. $VZ

Investment Management Corp of Ontario trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 11.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,256 shares of the cell phone carrier’s stock after selling 69,665 shares during the quarter. Investment Management Corp of Ontario’s holdings in Verizon Communications were worth $22,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the last quarter. United Bank boosted its holdings in shares of Verizon Communications by 11.5% during the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after acquiring an additional 806 shares during the last quarter. Jump Financial LLC boosted its holdings in shares of Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock valued at $1,023,000 after acquiring an additional 17,901 shares during the last quarter. HUB Investment Partners LLC boosted its holdings in shares of Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock valued at $1,779,000 after acquiring an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its holdings in shares of Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock valued at $389,000 after acquiring an additional 443 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VZ. Citigroup raised their price target on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 20th. Barclays raised their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Trading Down 1.9%

Verizon Communications stock opened at $45.86 on Thursday. The stock has a market cap of $191.50 billion, a P/E ratio of 11.19, a PEG ratio of 1.14 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm’s 50 day moving average price is $47.03 and its 200-day moving average price is $45.63.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 4.97 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business 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 6.2%. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Key Verizon Communications News

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

• Positive Sentiment: Verizon unveiled simpler wireless plans, eliminated activation and upgrade fees, and launched a new loyalty program that could improve customer retention and reduce churn. Reuters article on Verizon simpler plans and fees
• Positive Sentiment: Verizon completed the expiration and final results process for its note exchange and tender offers, a debt-management step that may be viewed as supportive of balance-sheet flexibility. Verizon private exchange offers result article
• Neutral Sentiment: Analysts and market commentary said Verizon may be undervalued based on its share price versus earnings and cash-generating telecom operations, but this was more valuation commentary than a fresh catalyst. Yahoo Finance undervalued article
• Negative Sentiment: Despite the new customer initiatives, Verizon’s stock has lagged the broader market in recent trading, with investors possibly worried that heavier competition and fee cuts could pressure profitability. Yahoo Finance falls more steeply article

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.