Axxcess Wealth Management LLC Sells 67,909 Shares of Verizon Communications Inc. $VZ

Key Points

• Axxcess Wealth Management LLC reduced its Verizon stake by 27.9% in the first quarter, selling 67,909 shares and leaving it with 175,170 shares worth about $8.79 million.
• Verizon reported quarterly earnings of $1.28 per share, topping estimates, while revenue rose 2.7% year over year to $34.44 billion. The company also guided fiscal 2026 EPS to 4.950–4.990.
• Verizon declared a quarterly dividend of $0.7075 per share, implying an annualized yield of 6.6%. Analysts currently have a consensus Hold rating with an average price target of $50.59.

Axxcess Wealth Management LLC cut its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 27.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,170 shares of the cell phone carrier's stock after selling 67,909 shares during the quarter. Axxcess Wealth Management LLC's holdings in Verizon Communications were worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of VZ. Norges Bank purchased a new position in Verizon Communications in the 4th quarter worth approximately $2,357,158,000. Bank of New York Mellon Corp lifted its stake 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 purchasing an additional 7,509,055 shares during the period. State Street Corp boosted its position in shares of Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock valued at $9,080,810,000 after purchasing an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 5,851,715 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier's stock valued at $15,453,058,000 after buying an additional 5,497,598 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Key Stories Impacting Verizon Communications

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

• Positive Sentiment: Verizon’s recent moves to bolster growth — including broadband expansion, AI initiatives, convergence strategy, and a new BT joint venture tied to international enterprise revenue — are being viewed as supportive of the long-term outlook. Is Verizon Communications (VZ) Below Fair Value As The BT Joint Venture Raises Fresh Questions?
• Positive Sentiment: Verizon also continues to attract dividend-focused investors, with coverage highlighting it as a high-yield stock and an income candidate, while the company recently won nearly $3.2 billion in FCC wireless spectrum licenses that could strengthen its network position. Is Verizon Communications Inc. (VZ) The Best Dividend Stock to Buy According to Hedge Funds?
• Positive Sentiment: Analyst commentary suggests the broader telecom sector may be relatively insulated from Starlink-related pressure, which could help sentiment toward wireless names like Verizon. SpaceX Risk to Telecom Sector ‘Feels Overdone,’ for Now, Analyst Says

Verizon Communications Stock Performance

Verizon Communications stock opened at $42.58 on Wednesday. The company's 50-day moving average price is $46.38 and its 200-day moving average price is $45.97. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The company has a market cap of $177.80 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.26.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The business had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period last year, the company earned $1.19 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.6%. Verizon Communications's dividend payout ratio (DPR) is currently 69.02%.

Analyst Ratings Changes

Several research firms recently commented on VZ. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Freedom Capital raised Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Wells Fargo & Company lifted their price objective on Verizon Communications from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Morgan Stanley upped their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 28th. Finally, Citigroup increased their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.59.

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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