Freestone Grove Partners LP Acquires 153,746 Shares of Verizon Communications Inc. $VZ

Freestone Grove Partners LP boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 34.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,908 shares of the cell phone carrier's stock after purchasing an additional 153,746 shares during the period. Freestone Grove Partners LP's holdings in Verizon Communications were worth $25,485,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Strengthening Families & Communities LLC grew its holdings in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 539 shares during the last quarter. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the first quarter valued at about $27,000. Lam Group Inc. bought a new position in shares of Verizon Communications in the first quarter valued at about $28,000. Sarver Vrooman Wealth Advisors lifted its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after buying an additional 448 shares in the last quarter. Finally, Quattro Advisors LLC acquired a new position in Verizon Communications during the 4th quarter worth about $30,000. Institutional investors own 62.06% of the company's stock.

Verizon Communications Price Performance

Verizon Communications stock opened at $50.11 on Friday. 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 firm has a market capitalization of $208.20 billion, a P/E ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25. The business has a 50-day moving average of $45.91 and a 200-day moving average of $47.42. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly 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 net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. During the same period last year, the company posted $1.22 EPS. Verizon Communications's revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.7075 dividend. 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 dividend payout ratio is presently 73.70%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VZ. Barclays raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. Freedom Capital raised shares of Verizon Communications to a "hold" rating in a research note on Friday, June 12th. Morgan Stanley raised their price target 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. Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Finally, TD Cowen upped their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.84.

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.

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