Allworth Financial LP Trims Holdings in Verizon Communications Inc. $VZ

Key Points

• Allworth Financial reduced its Verizon stake by 29.4% in the second quarter, selling 148,888 shares and retaining 358,161 shares valued at approximately $15.2 million.
• Analyst sentiment remains mixed, with nine Buy ratings and twelve Holds producing a consensus Hold rating and an average price target of $50.84. Recent targets ranged from $44 to $56.
• Verizon reported quarterly EPS of $1.30, exceeding estimates, while revenue declined 0.7% year over year; the company also maintains an annualized dividend of $2.83 per share, yielding about 5.7%.

Allworth Financial LP cut its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 29.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Other large investors have also modified their holdings of the company. Strengthening Families & Communities LLC increased its holdings in 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 buying an additional 539 shares during the last quarter. Robinswood Financial LLC acquired a new stake in shares of Verizon Communications during the first quarter worth $27,000. Lam Group Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth $28,000. EQ Wealth Advisors LLC bought a new position in shares of Verizon Communications in the 4th quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after buying an additional 448 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on VZ. Royal Bank Of Canada boosted their price objective on Verizon Communications from $46.00 to $47.00 and gave the company a "sector perform" rating in a research report on Monday, July 27th. BNP Paribas Exane cut their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. Barclays increased their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Finally, TD Cowen lifted their target price on Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $50.84.

More Verizon Communications News

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

• Positive Sentiment: Verizon’s approximately 5.6% dividend yield and reputation for relatively stable cash flow are attracting income investors as markets debate interest rates. The company recently paid a quarterly dividend of $0.7075 per share, or $2.83 annualized. Is Verizon gaining defensive appeal?
• Positive Sentiment: Analyst targets remain modestly supportive, with recent targets ranging from $52 to $56 and nine analysts carrying Buy ratings. Verizon’s strong three-year total return and earnings guidance of approximately $4.99-$5.04 per share also provide a constructive backdrop for shareholders. Verizon stock looks cheap on earnings
• Neutral Sentiment: Valuation is inconclusive: Verizon trades at roughly 13 times earnings, which appears inexpensive for a large telecom, but its recent 77.2% three-year return means some of that value may already be reflected in the share price. The consensus analyst rating remains Hold, with an average target near $50.84.
• Negative Sentiment: CEO Kyle Malady sold 1,100 shares for approximately $55,066. The transaction reduced his holdings by about 1% and was made under a pre-arranged Rule 10b5-1 plan, making it a limited and less concerning signal, but it nevertheless adds modest selling pressure. Verizon CEO sells shares
• Negative Sentiment: Residents of Spring Lake, New Jersey, are opposing a proposed Verizon 5G installation on boardwalk pavilions. The dispute is local and unlikely to materially affect Verizon’s financial results, but it highlights permitting and community-relations risks associated with network expansion. Jersey Shore residents oppose Verizon 5G towers

Verizon Communications Price Performance

Shares of NYSE VZ opened at $49.37 on Friday. The company has a market capitalization of $205.13 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.40 and a beta of 0.25. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average of $45.81 and a two-hundred day moving average of $47.40.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analysts' expectations 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 quarter last year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is presently 73.70%.

Insider Buying and Selling at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total transaction of $55,066.00. Following the sale, the chief executive officer owned 108,766 shares in the company, valued at $5,444,825.96. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.

Verizon Communications 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source