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Czech National Bank Increases Holdings in Verizon Communications Inc. $VZ
The Czech National Bank has increased its stake in Verizon Communications Inc. by 3.8% in Q4, acquiring an additional 40,951 shares, bringing its total holdings to 1,111,810 shares valued at approximately $45.28 million. This comes as several brokerages have raised price targets and ratings on Verizon, contributing to a consensus “Moderate Buy” rating with an average price target of $50.32. Verizon also reported strong Q4 earnings, beating EPS estimates, and increased its quarterly dividend to $0.7075, offering an annualized yield of about 5.6%.