Edmond DE Rothschild Holding S.A. boosted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 19.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,423,540 shares of the cell phone carrier's stock after purchasing an additional 228,337 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Verizon Communications were worth $60,273,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. USS Investment Management Ltd increased its stake in shares of Verizon Communications by 4.6% during the first quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier's stock worth $35,790,000 after purchasing an additional 31,354 shares during the period. Cornerstone Capital Inc. grew its position in shares of Verizon Communications by 8.6% during the 2nd quarter. Cornerstone Capital Inc. now owns 317,284 shares of the cell phone carrier's stock worth $13,434,000 after purchasing an additional 25,156 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Verizon Communications by 15.3% during the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier's stock worth $97,059,000 after purchasing an additional 316,854 shares during the period. University of Texas Texas AM Investment Management Co. increased its holdings in shares of Verizon Communications by 127.0% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 184,170 shares of the cell phone carrier's stock worth $7,798,000 after purchasing an additional 103,046 shares during the period. Finally, Keudell Morrison Wealth Management acquired a new stake in shares of Verizon Communications in the fourth quarter valued at approximately $2,171,000. 62.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on VZ shares. Royal Bank Of Canada boosted their price target on Verizon Communications from $46.00 to $47.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. Scotiabank upped 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. 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. Finally, TD Cowen raised their price target on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $50.84.
Get Our Latest Stock Report on Verizon Communications
Verizon Communications Stock Down 0.1%
Shares of VZ opened at $50.18 on Thursday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company has a market cap of $208.49 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.40 and a beta of 0.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $45.73 and a two-hundred day simple moving average of $47.38.
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, beating analysts' consensus estimates of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The firm had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter last year, the business posted $1.22 EPS. The company'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. Research analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 5.6%. Verizon Communications's dividend payout ratio (DPR) is 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 stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the transaction, the chief executive officer owned 108,766 shares in the company, valued at $5,444,825.96. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by corporate insiders.
Verizon Communications Company Profile
(
Free Report)
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.
Further Reading
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