Kerusso Capital Management LLC Increases Holdings in Verizon Communications Inc. $VZ

Kerusso Capital Management LLC lifted its holdings in Verizon Communications Inc. (NYSE:VZ) by 23.4% in the second quarter, HoldingsChannel.com reports. The fund owned 105,388 shares of the cell phone carrier’s stock after buying an additional 20,010 shares during the quarter. Kerusso Capital Management LLC’s holdings in Verizon Communications were worth $4,462,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. USS Investment Management Ltd lifted its holdings in shares of Verizon Communications by 4.6% in the first 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. Teacher Retirement System of Texas boosted its position in shares of Verizon Communications by 41.0% during the fourth quarter. Teacher Retirement System of Texas now owns 2,197,366 shares of the cell phone carrier’s stock worth $89,499,000 after acquiring an additional 639,380 shares during the last quarter. Clarity Financial LLC grew its stake in Verizon Communications by 697.0% during the fourth quarter. Clarity Financial LLC now owns 471,127 shares of the cell phone carrier’s stock valued at $19,189,000 after acquiring an additional 412,018 shares in the last quarter. Cibc World Market Inc. grew its stake in Verizon Communications by 15.3% during the fourth 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. Finally, Keudell Morrison Wealth Management bought a new stake in Verizon Communications in the 4th quarter valued at $2,171,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $48.63 on Wednesday. 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 firm’s fifty day moving average is $45.41 and its 200 day moving average is $47.17. The company has a market cap of $202.05 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.35 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. During the same period last year, the company posted $1.22 EPS. 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 forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.8%. Verizon Communications’s dividend payout ratio (DPR) is presently 73.70%.

Analyst Upgrades and Downgrades

VZ has been the topic of several research analyst reports. Moffett Nathanson decreased their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Royal Bank Of Canada raised their price objective on Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research report on Monday, July 27th. Morgan Stanley lifted their target price on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wells Fargo & Company boosted their target price on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Finally, BNP Paribas Exane dropped their price target on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. 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.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.84.

Verizon Communications Company 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.