Groupama Asset Managment Trims Stake in Verizon Communications Inc. $VZ

Groupama Asset Managment cut its position in shares of Verizon Communications Inc. (NYSE:VZ) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,586 shares of the cell phone carrier’s stock after selling 16,631 shares during the period. Groupama Asset Managment’s holdings in Verizon Communications were worth $2,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Strengthening Families & Communities LLC lifted its stake in Verizon Communications by 490.0% in 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. Lam Group Inc. bought a new position in Verizon Communications during the 1st quarter worth about $28,000. EQ Wealth Advisors LLC purchased a new position in Verizon Communications during the 4th quarter valued at about $29,000. Sarver Vrooman Wealth Advisors increased its position in Verizon Communications by 173.0% during the 4th 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 during the period. Finally, Quattro Advisors LLC bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $30,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ stock opened at $46.88 on Friday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The firm has a market cap of $195.77 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.30 and a beta of 0.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a 50-day simple moving average of $45.32 and a two-hundred day simple moving average of $46.44.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s payout ratio is currently 73.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BNP Paribas Exane lowered their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Dbs Bank downgraded shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a report on Friday, June 12th. Finally, Morgan Stanley increased their target price on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.84.

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.