OLD National Bancorp IN Sells 16,881 Shares of Verizon Communications Inc. $VZ

OLD National Bancorp IN lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 5.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 295,786 shares of the cell phone carrier’s stock after selling 16,881 shares during the quarter. OLD National Bancorp IN’s holdings in Verizon Communications were worth $14,848,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VZ. Vanguard Group Inc. grew its holdings in Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock worth $15,453,058,000 after purchasing an additional 5,497,598 shares during the last quarter. State Street Corp boosted its position in shares of Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after purchasing an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC grew its stake in Verizon Communications by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier’s stock worth $4,168,080,000 after buying an additional 867,694 shares during the last quarter. Finally, Norges Bank purchased a new position in Verizon Communications during the 4th quarter worth $2,357,158,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

More Verizon Communications News

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.

Verizon Communications Price Performance

NYSE VZ opened at $46.07 on Friday. The company has a market cap of $192.38 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.11 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The stock’s fifty day moving average price is $46.91 and its 200 day moving average price is $45.83. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results 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 analysts’ expectations of $34.82 billion. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, equities research analysts forecast that Verizon Communications Inc. will post 4.97 earnings per share for the current year.

Verizon Communications Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VZ shares. Barclays increased their price target on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 31st. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Citigroup upped their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 20th. Erste Group Bank reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.