Diversify Advisory Services LLC Boosts Stock Position in Verizon Communications Inc. $VZ

Key Points

• Diversify Advisory Services increased its Verizon stake by 2,969.4% in the second quarter, purchasing 396,476 additional shares and bringing its holdings to 409,828 shares valued at $17.35 million. Institutional investors collectively own 62.06% of Verizon.
• Analyst sentiment remains mixed, with nine Buy ratings and twelve Hold ratings producing a consensus Hold rating and an average price target of $50.84. Recent targets range from $47 to $56.
• Verizon reported quarterly EPS of $1.30, exceeding estimates, though revenue of $34.25 billion declined 0.7% year over year. The company pays a $2.83 annualized dividend, yielding approximately 5.6%.

Diversify Advisory Services LLC increased its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 2,969.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 409,828 shares of the cell phone carrier's stock after purchasing an additional 396,476 shares during the period. Diversify Advisory Services LLC's holdings in Verizon Communications were worth $17,352,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. TD Cowen lifted their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research report on Friday, June 12th. Scotiabank boosted their target price on Verizon Communications from $51.50 to $52.50 and gave the company a "sector outperform" rating in a research report on Monday, July 27th. Finally, Erste Group Bank reiterated a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.84.

Insider Buying and Selling

In other news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were 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 in the company, valued at approximately $5,348,276.88. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Stock Up 0.1%

Shares of NYSE VZ opened at $50.19 on Wednesday. The stock has a 50 day moving average price of $45.65 and a 200 day moving average price of $47.35. The firm has a market capitalization of $208.52 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.40 and a beta of 0.25. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60.

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

Verizon Communications Dividend Announcement

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

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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