GSA Capital Partners LLP Invests $1.33 Million in Verizon Communications Inc. $VZ

Key Points

• GSA Capital Partners initiated a Verizon position worth approximately $1.33 million, purchasing 31,541 shares in the second quarter. Institutional investors collectively own 62.06% of Verizon’s stock.
• Analyst sentiment remains mixed, with Verizon holding an average “Hold” rating and an average price target of $50.84; nine analysts rate it Buy and twelve rate it Hold.
• Verizon reported quarterly EPS of $1.30, exceeding estimates, while revenue fell 0.7% year over year to $34.25 billion. The company pays an annualized dividend of $2.83 per share, yielding approximately 5.7%.

GSA Capital Partners LLP bought a new stake in Verizon Communications Inc. (NYSE:VZ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 31,541 shares of the cell phone carrier's stock, valued at approximately $1,335,000.

Several other large investors have also modified their holdings of VZ. Norges Bank acquired a new stake in Verizon Communications during the fourth quarter valued at approximately $2,357,158,000. Bank of America Corp DE lifted its holdings in Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock worth $3,117,471,000 after buying an additional 8,289,877 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Verizon Communications by 31.2% in the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier's stock worth $1,286,423,000 after acquiring an additional 7,509,055 shares in the last quarter. State Street Corp grew its position in shares of Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock worth $9,080,810,000 after acquiring an additional 7,461,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier's stock valued at $4,747,930,000 after acquiring an additional 5,851,715 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $5,348,276.88. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. BNP Paribas Exane dropped their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Scotiabank lifted their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Wells Fargo & Company increased their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada raised 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 report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Verizon Communications currently has an average rating of "Hold" and an average target price of $50.84.

Verizon Communications Stock Performance

VZ stock opened at $49.34 on Monday. The company has a 50-day simple moving average of $45.52 and a 200 day simple moving average of $47.30. The company has a market capitalization of $205.00 billion, a P/E ratio of 12.85, 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 Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last released its 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 firm had revenue of $34.25 billion for the quarter, compared to analysts' expectations of $35.16 billion. During the same quarter last year, the company earned $1.22 EPS. Verizon Communications's quarterly revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, July 10th. Verizon Communications's dividend payout ratio (DPR) is currently 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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