Caisse de depot et placement du Quebec Sells 439,394 Shares of Verizon Communications Inc. $VZ

Caisse de depot et placement du Quebec lessened its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 45.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 531,557 shares of the cell phone carrier's stock after selling 439,394 shares during the quarter. Caisse de depot et placement du Quebec's holdings in Verizon Communications were worth $22,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in VZ. RKL Wealth Management LLC raised its holdings in Verizon Communications by 4.3% in the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock worth $268,000 after purchasing an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Verizon Communications by 8.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier's stock valued at $113,000 after buying an additional 219 shares during the period. Frazier Financial Advisors LLC boosted its holdings in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock valued at $45,000 after buying an additional 219 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in shares of Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier's stock valued at $925,000 after buying an additional 223 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in shares of Verizon Communications by 0.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier's stock worth $1,426,000 after buying an additional 227 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on VZ. Royal Bank Of Canada increased their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research note on Monday, July 27th. Scotiabank boosted their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a research note on Monday, July 27th. TD Cowen upped their price objective on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Wells Fargo & Company raised their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Finally, Moffett Nathanson lowered their target price on shares of Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, July 20th. Nine 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 stock currently has a consensus rating of "Hold" and a consensus target price of $50.84.

Verizon Communications Trading Up 1.4%

NYSE VZ opened at $50.11 on Friday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 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 stock's fifty day moving average price is $45.91 and its 200-day moving average price is $47.42. The stock has a market cap of $208.20 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.40 and a beta of 0.25.

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

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 73.70%.

Insider Transactions at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total value of $55,066.00. Following the completion of the transaction, the chief executive officer directly owned 108,766 shares of the company's stock, valued at approximately $5,444,825.96. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.03% of the company's stock.

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.

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