PNC Financial Services Group Inc. Has $268.12 Million Stake in Verizon Communications Inc. $VZ

PNC Financial Services Group Inc. lowered its position in Verizon Communications Inc. (NYSE:VZ) by 0.3% in the first quarter, HoldingsChannel.com reports. The fund owned 5,341,037 shares of the cell phone carrier’s stock after selling 16,676 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Verizon Communications were worth $268,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Verizon Communications in the 4th quarter valued at about $2,357,158,000. Bank of New York Mellon Corp lifted its stake in Verizon Communications by 31.2% in the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after purchasing an additional 7,509,055 shares during the last quarter. State Street Corp increased its position in Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after buying an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Verizon Communications by 5.3% during the fourth 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 buying an additional 5,851,715 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 valued at $15,453,058,000 after buying an additional 5,497,598 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.6%

Shares of VZ stock opened at $43.76 on Wednesday. The firm has a 50 day moving average price of $45.51 and a two-hundred day moving average price of $46.15. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $182.71 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.06 and a beta of 0.26. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. As a group, analysts predict that Verizon Communications Inc. will post 4.98 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.5%. Verizon Communications’s payout ratio is 69.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Dbs Bank lowered Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. increased their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Finally, Morgan Stanley lifted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.03.

More Verizon Communications News

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

• Positive Sentiment: Several recent pieces frame Verizon as a value stock, highlighting its relatively low valuation and dividend appeal for income-focused investors.
• Positive Sentiment: Analysts cited FIFA-related network demand and stronger usage trends as potential near-term catalysts ahead of second-quarter earnings. Article Title
• Neutral Sentiment: Verizon is preparing for heavy network traffic around the first-ever World Cup halftime show, which reinforces its network scale but is not clearly a direct earnings driver yet. Article Title
• Neutral Sentiment: RBC lowered its price target on Verizon to $46 from $48 and kept a “sector perform” rating, signaling cautious sentiment rather than a major change in the thesis.
• Negative Sentiment: Verizon plans to cut about 3,000 jobs and sell 274 stores to franchisees, underscoring ongoing restructuring and raising questions about growth and margins. Article Title
• Negative Sentiment: Another report said Verizon will sell 274 stores and cut 500 office jobs, adding to concerns that management is leaning on cost reductions rather than clear revenue acceleration. Article Title

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.