Pinkerton Wealth LLC Buys New Shares in Verizon Communications Inc. $VZ

Pinkerton Wealth LLC purchased a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 136,831 shares of the cell phone carrier’s stock, valued at approximately $5,793,000. Verizon Communications accounts for approximately 0.5% of Pinkerton Wealth LLC’s investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of VZ. Brighton Jones LLC increased its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after acquiring an additional 16,704 shares in the last quarter. United Bank increased its stake in shares of 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 in the last quarter. Jump Financial LLC raised its position in shares of Verizon Communications by 312.0% during the 2nd 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 period. HUB Investment Partners LLC lifted its stake in shares of Verizon Communications by 17.2% during the 2nd quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock valued at $1,779,000 after buying an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its holdings in Verizon Communications by 5.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after buying an additional 443 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Moffett Nathanson lowered their price objective on Verizon Communications from $56.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Morgan Stanley lifted their target price on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Wells Fargo & Company boosted their price target on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. TD Cowen upped their price target on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Scotiabank increased their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.84.

Verizon Communications Stock Down 0.7%

VZ opened at $48.15 on Tuesday. The firm has a 50-day simple moving average of $45.35 and a two-hundred day simple moving average of $47.11. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a market capitalization of $200.05 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.35 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid 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 yield of 5.9%. Verizon Communications’s payout ratio is presently 73.70%.

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.