Hourglass Capital LLC Has $6.83 Million Stake in Verizon Communications Inc. $VZ

Hourglass Capital LLC raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 36.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,208 shares of the cell phone carrier’s stock after purchasing an additional 42,750 shares during the period. Hourglass Capital LLC’s holdings in Verizon Communications were worth $6,826,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Verizon Communications in the 4th quarter worth approximately $2,357,158,000. Bank of America Corp DE grew its holdings in shares of Verizon Communications by 15.4% in the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock worth $3,117,471,000 after purchasing an additional 8,289,877 shares during the last quarter. Bank of New York Mellon Corp grew its position in Verizon Communications by 31.2% during the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock worth $1,286,423,000 after acquiring an additional 7,509,055 shares during the last quarter. State Street Corp grew its holdings in Verizon Communications by 3.5% during 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 acquiring an additional 7,461,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $4,747,930,000 after buying an additional 5,851,715 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VZ. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a report on Monday, July 27th. Scotiabank raised their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Barclays lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Finally, Moffett Nathanson dropped their target price on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and an average price target of $50.84.

Verizon Communications Price Performance

Shares of VZ opened at $48.15 on Tuesday. The stock has a market cap of $200.05 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.35 and a beta of 0.25. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The stock’s 50-day moving average price is $45.35 and its two-hundred day moving average price is $47.11. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.Verizon Communications’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.

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.