Verizon Communications Inc. $VZ Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 440,837 shares of the cell phone carrier’s stock after buying an additional 14,017 shares during the quarter. SteelPeak Wealth LLC’s holdings in Verizon Communications were worth $22,130,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in VZ. Lam Group Inc. acquired a new stake in Verizon Communications in the 1st quarter valued at $28,000. Strengthening Families & Communities LLC raised its position 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 worth $26,000 after acquiring an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new position in Verizon Communications during the fourth quarter worth $28,000. EQ Wealth Advisors LLC purchased a new position in Verizon Communications during the fourth quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its holdings in Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after purchasing an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

More 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 Trading Up 2.4%

VZ opened at $43.84 on Friday. 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 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $45.74 and a 200-day simple moving average of $46.09. The firm has a market cap of $183.08 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.05 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) 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 firm had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the previous year, the business earned $1.19 EPS. The company’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 4.98 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s payout ratio is currently 69.02%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VZ. Citigroup boosted their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. BNP Paribas Exane decreased their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, Wells Fargo & Company initiated coverage on Verizon Communications in a report on Wednesday, July 8th. They set an “equal weight” rating and a $43.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has an average rating of “Hold” and an average target price 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.