Verizon Drops to $43.12 After Dow Exit, Yield Hits 6.27%

On June 30, Verizon shares fell 2.22% to $43.12 following its removal from the Dow Jones Industrial Average to accommodate Alphabet. The change, first announced on June 24 and executed before trading on June 29, marks the index's 54th constituent shift and boosts its Magnificent Seven exposure to five members. Alphabet has surged nearly 13,700% since its 2004 IPO, while Verizon gained just 36-39.5% over the same period excluding dividends. Index funds adjusted holdings, creating short-term pressure on Verizon despite its solid 6.27% dividend yield versus the S&P 500's 1.1% average. Nike remains under watch after its price slipped below $42.