WNY Asset Management LLC Takes Position in Verizon Communications Inc. $VZ

WNY Asset Management LLC purchased a new position in shares of Verizon Communications Inc. (NYSE:VZ) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 63,872 shares of the cell phone carrier’s stock, valued at approximately $3,206,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lam Group Inc. purchased a new position in Verizon Communications in the 1st quarter valued at $28,000. Strengthening Families & Communities LLC grew its holdings in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares in the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the fourth quarter worth $29,000. Sarver Vrooman Wealth Advisors raised its position in shares of Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares during the last quarter. Finally, Quattro Advisors LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $30,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Up 1.7%

NYSE VZ opened at $46.88 on Friday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The business’s fifty day simple moving average is $45.32 and its 200-day simple moving average is $46.44. The firm has a market cap of $195.77 billion, a PE ratio of 12.21, a P/E/G ratio of 1.28 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating 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 analysts’ expectations of $35.16 billion. During the same quarter in the previous year, the company posted $1.22 EPS. The company’s revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, equities analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.0%. The ex-dividend date is Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.

Analyst Upgrades and Downgrades

VZ has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada boosted their target price on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.84.

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.