Bank of Nova Scotia Has $131.61 Million Position in Verizon Communications Inc. $VZ

Key Points

• Bank of Nova Scotia reduced its Verizon stake by 14.3% in the first quarter, but still held 2.62 million shares valued at about $131.6 million at quarter-end.
• Verizon reported better-than-expected earnings of $1.28 per share, though revenue of $34.44 billion came in slightly below estimates; the company also raised its FY 2026 EPS guidance to 4.95-4.99.
• The company declared a quarterly dividend of $0.7075 per share, implying an annualized yield of about 6.4%, while analysts currently have a consensus rating of Hold with an average price target of $50.03.

Bank of Nova Scotia cut its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,621,767 shares of the cell phone carrier's stock after selling 438,799 shares during the quarter. Bank of Nova Scotia owned approximately 0.06% of Verizon Communications worth $131,613,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of VZ. Lam Group Inc. acquired a new position in shares of Verizon Communications during the first quarter valued at about $28,000. Strengthening Families & Communities LLC grew its stake in shares of Verizon Communications by 490.0% in the 4th 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 period. EQ Wealth Advisors LLC acquired a new stake in shares of Verizon Communications in the 4th quarter valued at about $29,000. Sarver Vrooman Wealth Advisors increased its position in Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after buying an additional 448 shares in the last quarter. Finally, Quattro Advisors LLC bought a new stake in Verizon Communications in the 4th quarter valued at about $30,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Trading Down 0.9%

VZ opened at $43.91 on Friday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The firm has a market capitalization of $183.36 billion, a PE ratio of 10.71, a P/E/G ratio of 1.08 and a beta of 0.26. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61. The company's 50-day moving average is $45.39 and its 200 day moving average is $46.20.

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

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.4%. Verizon Communications's payout ratio is presently 69.02%.

Trending Headlines about Verizon Communications

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

• Positive Sentiment: Verizon is highlighting new consumer products, including the Gizmo Watch 4 for families focused on child safety, which could support device sales and customer engagement. Verizon (VZ) Launches Gizmo Watch 4 For Families Focused On Child Safety
• Positive Sentiment: Verizon is also promoting major Samsung Galaxy Z Fold and wearable preorder deals, signaling continued carrier partnerships and potential upgrade-driven demand. Samsung's next-generation Z Fold meets simplicity & value on Verizon
• Neutral Sentiment: Multiple previews note that Verizon will report Q2 results before the bell on Friday, keeping the stock in focus as investors look for updates on wireless growth, margins, and guidance. Verizon (VZ) To Report Earnings Tomorrow: Here Is What To Expect
• Neutral Sentiment: Coverage ahead of earnings says Verizon is in a broad reset, selling 274 company-owned stores, cutting jobs, and leaning more on franchises to improve efficiency. Verizon Communications (VZ) Sells Stores And Cuts Jobs, Is The Stock Still A Bargain?
• Negative Sentiment: Analysts are watching whether Verizon’s restructuring and cost cuts are enough to offset growth concerns, including competitive pressure from rivals and fears around new Starlink-related offerings in the market. Verizon Earnings Will Put Cost Cuts and SpaceX Fears Under the Microscope
• Negative Sentiment: Peer news from T-Mobile and AT&T underscores a tougher wireless backdrop, with intensified competition and execution risks across the sector that could weigh on Verizon’s outlook. T-Mobile Falls Despite Earnings Beat. CEO Shoots Down Expanded Starlink Deal.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on VZ shares. BNP Paribas Exane dropped their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Morgan Stanley raised their price objective on Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 28th. Barclays decreased their price objective on Verizon Communications from $47.00 to $45.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. increased their target price on Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.03.

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.