Palouse Capital Management Inc. Sells 14,307 Shares of Verizon Communications Inc. $VZ

Palouse Capital Management Inc. lessened its holdings in Verizon Communications Inc. (NYSE:VZ) by 25.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,028 shares of the cell phone carrier’s stock after selling 14,307 shares during the period. Palouse Capital Management Inc.’s holdings in Verizon Communications were worth $1,737,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Robinswood Financial LLC bought a new stake in Verizon Communications during the 1st quarter worth approximately $27,000. Lam Group Inc. bought a new position in shares of Verizon Communications in the first quarter valued at approximately $28,000. Strengthening Families & Communities LLC lifted its holdings in shares of 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 purchasing an additional 539 shares in the last quarter. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its position in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after buying an additional 448 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ stock opened at $46.89 on Friday. The firm has a market cap of $194.80 billion, a PE ratio of 12.21, a P/E/G ratio of 1.29 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average of $45.20 and a 200-day moving average of $46.70. 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 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 the consensus estimate 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 last year, the business posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts expect 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. Stockholders of record on Friday, July 10th were given a dividend of $0.7075 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is currently 73.70%.

Wall Street Analyst Weigh In

VZ has been the subject of several recent research reports. Morgan Stanley upped their price target on Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wells Fargo & Company raised their price objective on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Royal Bank Of Canada upped their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.84.

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.