Procyon Advisors LLC Acquires 12,789 Shares of Verizon Communications Inc. $VZ

Procyon Advisors LLC grew its holdings in Verizon Communications Inc. (NYSE:VZ) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,699 shares of the cell phone carrier’s stock after purchasing an additional 12,789 shares during the quarter. Procyon Advisors LLC’s holdings in Verizon Communications were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. LGT Fund Management Co Ltd. acquired a new position in Verizon Communications during the first quarter worth $5,096,000. Global Assets Advisory LLC boosted its holdings in Verizon Communications by 5.4% in the 1st quarter. Global Assets Advisory LLC now owns 27,297 shares of the cell phone carrier’s stock worth $1,370,000 after buying an additional 1,393 shares during the period. Anchor Investment Management LLC grew its holdings in Verizon Communications by 13.1% during the 1st quarter. Anchor Investment Management LLC now owns 123,106 shares of the cell phone carrier’s stock valued at $6,180,000 after buying an additional 14,222 shares in the last quarter. ARQ Wealth Advisors LLC purchased a new position in Verizon Communications during the first quarter worth about $524,000. Finally, Diversify Wealth Management LLC grew its position in Verizon Communications by 105.2% in the first quarter. Diversify Wealth Management LLC now owns 316,425 shares of the cell phone carrier’s stock worth $14,749,000 after acquiring an additional 162,227 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 1.2%

Verizon Communications stock opened at $42.64 on Tuesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The firm has a market capitalization of $178.05 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.03 and a beta of 0.26. The firm has a 50 day moving average of $46.00 and a 200 day moving average of $46.03. 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 issued its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. The business had revenue of $34.44 billion for 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 revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, research analysts predict that Verizon Communications Inc. will post 4.98 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 given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Wall Street Analyst Weigh In

VZ has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Wells Fargo & Company initiated coverage on shares of Verizon Communications in a research note on Wednesday, July 8th. They set an “equal weight” rating and a $43.00 target price on the stock. Citigroup increased their price target on 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 restated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Finally, Freedom Capital raised Verizon Communications to a “hold” rating in a report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.28.

Key Headlines Impacting Verizon Communications

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

• Positive Sentiment: Verizon launched the new Gizmo Watch 4, a kid-friendly smartwatch with safety features like removal detection and real-time location tracking, which could help expand the company’s Verizon Family ecosystem and add wireless subscribers. Meet the Gizmo Watch 4: Verizon’s new kid-friendly smartwatch
• Positive Sentiment: Verizon announced it will power new BMW Group vehicles in the U.S. with 5G Standalone, broadening its automotive connectivity business and potentially creating a new growth avenue in connected-car services. Can Verizon’s KDDI Tie-Up for Latest BMW Vehicles Boost Its Profits?
• Positive Sentiment: Coverage highlighting Verizon as a defensive, high-yield dividend stock and “cash machine” may be supporting demand from income-focused investors seeking stability ahead of market volatility. The Cash Machine The Market Put On Sale: VZ
• Neutral Sentiment: Investors are also watching Verizon’s earnings report next week, which could become the main near-term catalyst for the stock depending on subscriber growth, pricing trends, and guidance. Should You Buy Verizon Communications Stock Before July 24?
• Neutral Sentiment: Verizon also spotlighted its Small Business Super Pitch finalists, a brand and community-relations initiative that is positive for image but likely limited in immediate financial impact. Four small businesses to compete in finals of Verizon’s Small Business Super Pitch

Verizon Communications Company 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.