Financiere des Professionnels Fonds d investissement inc. Acquires Shares of 59,069 Verizon Communications Inc. $VZ

Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Verizon Communications Inc. (NYSE:VZ) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 59,069 shares of the cell phone carrier’s stock, valued at approximately $2,965,000.

Several other hedge funds also recently made changes to their positions in VZ. Brighton Jones LLC lifted its stake in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares during the last quarter. United Bank boosted its holdings in Verizon Communications by 11.5% in the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after purchasing an additional 806 shares during the period. Jump Financial LLC increased its stake in Verizon Communications by 312.0% during the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock valued at $1,023,000 after purchasing an additional 17,901 shares during the last quarter. HUB Investment Partners LLC increased its stake in Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock valued at $1,779,000 after purchasing an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP raised its holdings in shares of Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Trading Up 2.4%

Shares of NYSE:VZ opened at $43.84 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $45.74 and its 200 day moving average price is $46.09. The company has a market cap of $183.08 billion, a PE ratio of 10.69, a P/E/G ratio of 1.05 and a beta of 0.26. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68.

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

Verizon Communications Announces Dividend

The firm 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 6.5%. Verizon Communications’s payout ratio is currently 69.02%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Dbs Bank lowered shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Scotiabank dropped their price objective on shares of Verizon Communications from $54.50 to $51.50 and set a “sector outperform” rating on the stock in a research note on Wednesday. Barclays cut their target price on shares of Verizon Communications from $47.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.09.

Key Verizon Communications News

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

• Positive Sentiment: Verizon’s store divestitures and layoffs could lower operating costs and support margins as the company restructures its retail footprint. VZ Stock Rises — Verizon Moves To Slash Costs With Major Store Shakeup
• Positive Sentiment: KeyCorp raised multiple earnings estimates for Verizon, including FY2027 EPS to $5.40, suggesting analysts see improving profitability ahead.
• Positive Sentiment: Verizon is also benefiting from signs of operational strength, including strong wireless network quality rankings and a new BMW connected-car partnership that could expand 5G and IoT revenue opportunities. Wireless Network Quality Returns to Record High, JD Power Finds
• Neutral Sentiment: Scotiabank lowered its price target to $51.50 from $54.50 but kept a “sector outperform” rating, so the note was cautious but not bearish.
• Negative Sentiment: The restructuring includes significant layoffs and store sales, which can signal pressure on the core business and create near-term disruption for employees and operations. Verizon to shed 274 stores, lay off another 500 corporate employees

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.