PNC Financial Services Group Inc. Sells 16,676 Shares of Verizon Communications Inc. $VZ

PNC Financial Services Group Inc. reduced its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,341,037 shares of the cell phone carrier’s stock after selling 16,676 shares during the period. PNC Financial Services Group Inc. owned approximately 0.13% of Verizon Communications worth $268,120,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Verizon Communications by 61.2% during the fourth 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 during the period. United Bank boosted its stake in Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after purchasing an additional 806 shares during the period. Jump Financial LLC boosted its stake in Verizon Communications by 312.0% in the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock worth $1,023,000 after purchasing an additional 17,901 shares during the period. HUB Investment Partners LLC increased its holdings in 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 worth $1,779,000 after purchasing an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP increased its holdings in Verizon Communications by 5.2% during the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after purchasing an additional 443 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VZ shares. Scotiabank cut their price target on Verizon Communications from $54.50 to $51.50 and set a “sector outperform” rating on the stock in a report on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Wells Fargo & Company started coverage on Verizon Communications in a report on Wednesday, July 8th. They set an “equal weight” rating and a $43.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.03.

Key Headlines Impacting Verizon Communications

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Several recent pieces frame Verizon as a value stock, highlighting its relatively low valuation and dividend appeal for income-focused investors.
• Positive Sentiment: Analysts cited FIFA-related network demand and stronger usage trends as potential near-term catalysts ahead of second-quarter earnings. Article Title
• Neutral Sentiment: Verizon is preparing for heavy network traffic around the first-ever World Cup halftime show, which reinforces its network scale but is not clearly a direct earnings driver yet. Article Title
• Neutral Sentiment: RBC lowered its price target on Verizon to $46 from $48 and kept a “sector perform” rating, signaling cautious sentiment rather than a major change in the thesis.
• Negative Sentiment: Verizon plans to cut about 3,000 jobs and sell 274 stores to franchisees, underscoring ongoing restructuring and raising questions about growth and margins. Article Title
• Negative Sentiment: Another report said Verizon will sell 274 stores and cut 500 office jobs, adding to concerns that management is leaning on cost reductions rather than clear revenue acceleration. Article Title

Verizon Communications Stock Up 0.6%

Shares of VZ stock opened at $43.76 on Wednesday. The firm’s fifty day moving average price is $45.51 and its two-hundred day moving average price is $46.15. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm has a market capitalization of $182.71 billion, a P/E ratio of 10.67, a PEG ratio of 1.06 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 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. 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 fiscal year.

Verizon Communications Announces Dividend

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

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.