Beverly Hills Private Wealth LLC Grows Stock Position in Verizon Communications Inc. $VZ

Beverly Hills Private Wealth LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 12.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 213,520 shares of the cell phone carrier's stock after acquiring an additional 23,214 shares during the period. Verizon Communications makes up about 1.7% of Beverly Hills Private Wealth LLC's holdings, making the stock its 13th largest holding. Beverly Hills Private Wealth LLC's holdings in Verizon Communications were worth $9,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock worth $1,759,000 after purchasing an additional 16,704 shares during the period. United Bank raised its holdings in Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after buying an additional 806 shares during the period. Jump Financial LLC lifted its position in Verizon Communications by 312.0% in the second quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after buying an additional 17,901 shares during the last quarter. HUB Investment Partners LLC lifted its position in Verizon Communications by 17.2% in the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock valued at $1,779,000 after buying an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP boosted its stake in Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after buying an additional 443 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total transaction of $53,548.00. Following the sale, the chief executive officer owned 109,866 shares in the company, valued at $5,348,276.88. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on VZ. Moffett Nathanson dropped their price target on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, July 20th. Morgan Stanley lifted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Barclays boosted their target price on Verizon Communications from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, Freedom Capital upgraded Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Nine research 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 stock currently has an average rating of "Hold" and a consensus price target of $50.84.

Verizon Communications Price Performance

Shares of VZ opened at $50.12 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The firm's 50 day moving average price is $45.58 and its 200 day moving average price is $47.33. The company has a market cap of $208.24 billion, a P/E ratio of 13.05, a PEG ratio of 1.38 and a beta of 0.25. 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 issued its quarterly earnings results 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. 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 analysts' expectations of $35.16 billion. During the same quarter last year, the company posted $1.22 EPS. The firm's revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, research analysts forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

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

Verizon Communications Company 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.

Want to see what other hedge funds are holding VZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verizon Communications Inc. (NYSE:VZ - Free Report).

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