Dupree Financial Group LLC Sells 59,762 Shares of Verizon Communications Inc. $VZ

Dupree Financial Group LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 17.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 290,007 shares of the cell phone carrier’s stock after selling 59,762 shares during the period. Verizon Communications accounts for about 5.9% of Dupree Financial Group LLC’s investment portfolio, making the stock its biggest holding. Dupree Financial Group LLC’s holdings in Verizon Communications were worth $14,558,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lam Group Inc. acquired a new position in Verizon Communications during the first quarter worth $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications in the third quarter worth $29,000. Strengthening Families & Communities LLC lifted its holdings 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 valued at $26,000 after acquiring an additional 539 shares during the period. Holos Integrated Wealth LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $28,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 4th quarter worth $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ opened at $46.43 on Monday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock has a market cap of $193.89 billion, a P/E ratio of 11.33, a PEG ratio of 1.13 and a beta of 0.24. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average of $46.93 and a two-hundred day moving average of $45.86.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business had revenue of $34.44 billion for the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the business earned $1.19 earnings per share. The company’s quarterly 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, research analysts predict that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, July 10th. Verizon Communications’s dividend payout ratio is 69.02%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. Morgan Stanley boosted their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Finally, Oppenheimer increased their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus price target 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.