OLD National Bancorp IN Reduces Position in Verizon Communications Inc. $VZ

OLD National Bancorp IN trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,786 shares of the cell phone carrier’s stock after selling 16,881 shares during the period. OLD National Bancorp IN’s holdings in Verizon Communications were worth $14,848,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Artesa Financial Group LLC boosted its position in shares of Verizon Communications by 4.6% during the first quarter. Artesa Financial Group LLC now owns 6,494 shares of the cell phone carrier’s stock valued at $326,000 after buying an additional 283 shares during the period. Davidson Trust Co. raised its holdings in shares of Verizon Communications by 3.2% in the first quarter. Davidson Trust Co. now owns 24,956 shares of the cell phone carrier’s stock worth $1,253,000 after buying an additional 771 shares during the period. Meyer Handelman Co. raised its holdings in shares of Verizon Communications by 2.9% in the first quarter. Meyer Handelman Co. now owns 1,245,243 shares of the cell phone carrier’s stock worth $62,511,000 after buying an additional 35,395 shares during the period. Haven Capital Group Inc. bought a new stake in shares of Verizon Communications during the 1st quarter worth approximately $234,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Verizon Communications during the 1st quarter worth approximately $10,788,000. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VZ shares. Oppenheimer upped their price objective on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Citigroup lifted their target price on Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Wells Fargo & Company raised their price target on shares of Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $56.00 price objective on shares of Verizon Communications in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Price Performance

Shares of VZ stock opened at $46.07 on Friday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The stock has a market capitalization of $192.38 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.11 and a beta of 0.24. The stock has a fifty day simple moving average of $46.91 and a two-hundred day simple moving average of $45.83. 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 (NYSE:VZ) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio is presently 69.02%.

Verizon Communications News Roundup

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

• Positive Sentiment: Verizon remains a popular dividend stock, with investors still attracted to its roughly 6% yield and defensive profile. Why Johnson & Johnson, Altria, Verizon, and Other Safe Dividend Stocks Climbed Today
• Neutral Sentiment: Some market commentary continues to frame Verizon as a potential income play, with its high yield appealing to investors seeking stability rather than growth. Verizon Communications (VZ) Falls More Steeply Than Broader Market: What Investors Need to Know
• Neutral Sentiment: Verizon’s latest earnings were solid, with the company recently beating EPS estimates, which may help support the stock’s valuation over time.
• Negative Sentiment: S&P Dow Jones Indices said Verizon will be removed from the Dow Jones Industrial Average and replaced by Alphabet, reducing its visibility in the blue-chip benchmark. Alphabet Wins a Seat at the Dow
• Negative Sentiment: Investors are also reacting to the fact that Verizon’s lower share price gave it only a small weighting in the price-weighted Dow, reinforcing concerns that the company has become less relevant to the index. Could Nike Get the Boot from the Dow? Why Berkshire Hathaway Might Take Its Place.

About Verizon Communications

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.