Bessemer Group Inc. Sells 99,793 Shares of Verizon Communications Inc. $VZ

Bessemer Group Inc. reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 2.9% in the first quarter, Holdings Channel reports. The fund owned 3,332,840 shares of the cell phone carrier’s stock after selling 99,793 shares during the quarter. Bessemer Group Inc.’s holdings in Verizon Communications were worth $167,308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Strengthening Families & Communities LLC raised its stake in Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares in the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth $28,000. Lam Group Inc. bought a new stake in shares of Verizon Communications in the 1st quarter worth about $28,000. EQ Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors increased its holdings in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after buying an additional 448 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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 Stock Up 2.4%

Shares of NYSE:VZ opened at $43.84 on Friday. The firm has a market capitalization of $183.08 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.26. The business has a 50 day simple moving average of $45.74 and a two-hundred day simple moving average of $46.09. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. 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 (NYSE:VZ) last issued its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period last year, the company earned $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 predict that Verizon Communications Inc. will post 4.98 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. Shareholders of record on Friday, July 10th will be paid a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.5%. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Freedom Capital raised 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. Morgan Stanley upped their price objective on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Citigroup raised their price objective on Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, BNP Paribas Exane dropped their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.09.

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.