Tobam Acquires 29,581 Shares of Verizon Communications Inc. $VZ

Tobam boosted its holdings in Verizon Communications Inc. (NYSE:VZ) by 17.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,173 shares of the cell phone carrier’s stock after purchasing an additional 29,581 shares during the period. Verizon Communications comprises 2.0% of Tobam’s portfolio, making the stock its 4th largest position. Tobam’s holdings in Verizon Communications were worth $8,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VZ. Brighton Jones LLC raised its position in shares of Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares in the last quarter. United Bank grew its position in shares of Verizon Communications by 11.5% during the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after buying an additional 806 shares in the last quarter. Jump Financial LLC grew its position in shares of Verizon Communications by 312.0% during the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after buying an additional 17,901 shares in the last quarter. HUB Investment Partners LLC increased its stake in shares of Verizon Communications by 17.2% in the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock worth $1,779,000 after buying an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP increased its stake in shares of Verizon Communications by 5.2% in the second 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 last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

Verizon Communications stock opened at $45.44 on Friday. 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 Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a fifty day moving average price of $46.92 and a two-hundred day moving average price of $45.66. The company has a market cap of $189.72 billion, a PE ratio of 11.08, a P/E/G ratio of 1.11 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, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion for the quarter, compared to analysts’ expectations of $34.82 billion. During the same period in the prior year, the company earned $1.19 earnings per share. The firm’s 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. Research analysts expect that Verizon Communications Inc. will post 4.97 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s dividend payout ratio is 69.02%.

Analysts Set New Price Targets

A number of research firms have commented on VZ. Citigroup increased their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Barclays boosted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. Wells Fargo & Company upped their target price on shares of Verizon Communications from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. Morgan Stanley lifted their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.