Top 5 Dividend Stocks to Buy According to Peter S. Stamos’ Stamos Capital

2. Verizon Communications Inc. (NYSE:VZ)

Stamos Capital Partners’ Stake Value: $13,744,000
Dividend Yield as of June 14: 5.22%
Number of Hedge Fund Holders: 69

Verizon Communications Inc. (NYSE:VZ) is a New York-based telecommunications company that offers data and video services on its networks and platforms. The company’s Q1 results came in line with Street estimates, with its EPS and revenue standing at $1.35 and $33.6 billion, respectively. Moreover, the company reported a 9.5% year-over-year growth in its total wireless service revenue at $18.3 billion.

On May 31, Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend of $0.35 per share, in line with its previous dividend. The company maintains a 14-year track record of consistent dividend growth. As of June 14, the stock’s dividend yield came to be recorded at 5.22%.

At the end of Q1 2022, Stamos Capital owned stakes worth over $13.7 million in Verizon Communications Inc. (NYSE:VZ), purchasing additional 96,000 VZ shares during the quarter. The company accounted for 4.58% of Peter S. Stamos’ portfolio. In May, Wolfe Research set a $50 price target on Verizon Communications Inc. (NYSE:VZ), with a Peer Perform rating on the shares, appreciating the company’s media, cable, and telecom sectors.

At the end of March 2022, 69 hedge funds tracked by Insider Monkey owned a $4.12 billion worth of stake in Verizon Communications Inc. (NYSE:VZ). In comparison, 63 hedge funds held positions in the company in the previous quarter, with stakes valued at over $10.8 billion.

Weitz Investment Management mentioned Verizon Communications Inc. (NYSE:VZ) in its Q4 2021 investor letter. Here is what the firm had to say:

“After several quarters of pandemic-induced outsized growth, new broadband connection growth has slowed for U.S. cable operators. This slower growth has coincided with a renewed push by competitors like Verizon and AT&T to offer high-speed data (either via wireless connects or by building new fiber-optic networks).”