Allworth Financial LP Lowers Stake in Verizon Communications Inc. $VZ

Allworth Financial LP decreased its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 29.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,161 shares of the cell phone carrier's stock after selling 148,888 shares during the period. Allworth Financial LP's holdings in Verizon Communications were worth $15,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VZ. California State Teachers Retirement System grew its stake in shares of Verizon Communications by 4,016.0% during the second quarter. California State Teachers Retirement System now owns 271,369,762 shares of the cell phone carrier's stock worth $11,489,796,000 after purchasing an additional 264,776,704 shares in the last quarter. Norges Bank acquired a new position in shares of Verizon Communications during the 4th quarter worth about $2,357,158,000. Bank of America Corp DE increased its holdings in shares of Verizon Communications by 15.4% in the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock valued at $3,117,471,000 after acquiring an additional 8,289,877 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Verizon Communications by 31.2% in the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier's stock valued at $1,286,423,000 after acquiring an additional 7,509,055 shares during the last quarter. Finally, State Street Corp raised its position in shares of Verizon Communications by 3.5% during the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock worth $9,080,810,000 after acquiring an additional 7,461,335 shares in the last quarter. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

NYSE VZ opened at $50.40 on Wednesday. The firm has a market cap of $209.40 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.70 and a beta of 0.26. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The business's 50-day moving average price is $46.61 and its 200 day moving average price is $47.50. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. The firm 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%.The firm's revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Verizon Communications in a report on Wednesday, August 26th. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a report on Monday, July 27th. Barclays boosted their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. BNP Paribas Exane decreased their price objective on shares of Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Finally, Morgan Stanley raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.97.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $50.50, for a total value of $55,550.00. Following the sale, the chief executive officer owned 107,666 shares of the company's stock, valued at $5,437,133. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,300 shares of company stock valued at $164,164. 0.03% of the stock is currently owned by company insiders.

Verizon Communications News Summary

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon signed a multibillion-dollar supply agreement with Corning for high-density optical fiber running through 2032. The commitment is intended to expand broadband access and strengthen infrastructure for rising AI-related data traffic, providing greater long-term visibility for Verizon’s network buildout. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The agreement reportedly covers approximately 80 million miles of fiber and could help Verizon meet growing demand for consumer broadband, business connectivity and converged services. Investors may view the deal as supporting customer growth and reinforcing Verizon’s competitive position in infrastructure tied to AI demand. Verizon Just Locked In 80 Million Miles of Fiber Through 2032
• Neutral Sentiment: The deal’s strategic benefits are clear, but the articles do not disclose its precise financial terms. Verizon will likely need to commit substantial capital and operating resources, so the effect on margins, free cash flow and returns will depend on execution and broadband subscriber growth. Verizon, Corning Reach Multi-Billion Dollar Agreement for Broadband Expansion
• Negative Sentiment: Some market commentary points to investors rotating away from defensive, high-yield telecommunications stocks after Verizon’s strong run. Brokerages maintain a consensus “Hold” recommendation, suggesting much of the recent recovery may already be reflected in the share price. Shift Away from Defensive Plays Hits Verizon Communications

About Verizon Communications

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and related technology services. Its offerings include mobile voice and data plans, 5G connectivity, fixed wireless access, fiber-optic internet through Verizon Fios, home services, and connected-device solutions.

Through Verizon Business, the company serves enterprises, government agencies, and other organizations with communications networks, managed connectivity, cybersecurity, cloud and edge-computing services, unified communications, and Internet of Things solutions.

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