AMG National Trust Bank Cuts Stock Holdings in Verizon Communications Inc. $VZ

AMG National Trust Bank reduced its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 46.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,948 shares of the cell phone carrier's stock after selling 80,868 shares during the period. AMG National Trust Bank's holdings in Verizon Communications were worth $3,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in VZ. State Street Corp increased its holdings in Verizon Communications by 3.5% in 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. Charles Schwab Investment Management Inc. lifted its holdings in Verizon Communications by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier's stock valued at $4,747,930,000 after purchasing an additional 5,851,715 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier's stock valued at $4,168,080,000 after purchasing an additional 867,694 shares during the period. Bank of America Corp DE grew its position in shares of Verizon Communications by 15.4% in the first 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 purchasing an additional 8,289,877 shares during the period. Finally, Norges Bank acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $2,357,158,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Performance

VZ opened at $50.12 on Tuesday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The firm has a market capitalization of $208.24 billion, a PE ratio of 13.05, a PEG ratio of 1.38 and a beta of 0.25. 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's 50-day moving average price is $45.58 and its 200 day moving average price is $47.33.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company had revenue of $34.25 billion during the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. Verizon Communications's quarterly revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. Verizon Communications's dividend payout ratio is 73.70%.

Analysts Set New Price Targets

VZ has been the subject of several research analyst reports. Scotiabank upped their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research report on Monday, July 27th. Freedom Capital upgraded Verizon Communications to a "hold" rating in a report on Friday, June 12th. Royal Bank Of Canada boosted their price objective on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Finally, Moffett Nathanson decreased their target price on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, July 20th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $50.84.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total value of $53,548.00. Following the completion of the sale, the chief executive officer owned 109,866 shares of the company's stock, valued at approximately $5,348,276.88. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company's stock.

About Verizon Communications

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.

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