Sienna Gestion Acquires 14,210 Shares of Verizon Communications Inc. $VZ

Sienna Gestion raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310,811 shares of the cell phone carrier’s stock after acquiring an additional 14,210 shares during the period. Sienna Gestion’s holdings in Verizon Communications were worth $12,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Verizon Communications during the fourth quarter valued at approximately $2,357,158,000. Bank of New York Mellon Corp raised its position in shares of Verizon Communications by 31.2% during the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after buying an additional 7,509,055 shares in the last quarter. State Street Corp lifted its holdings in shares of Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after acquiring an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after acquiring an additional 5,851,715 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after acquiring an additional 5,497,598 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Down 2.1%

VZ opened at $47.11 on Tuesday. 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 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $47.15 and its 200-day moving average price is $45.55. The company has a market cap of $196.73 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.17 and a beta of 0.24.

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

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Friday, July 10th. Verizon Communications’s payout ratio is 69.02%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VZ. Scotiabank raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Raymond James Financial reiterated an “outperform” rating and set a $56.00 price objective on shares of Verizon Communications in a research report on Thursday, March 12th. Morgan Stanley boosted their target price on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Oppenheimer upped their target price on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.59.

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.