NewEdge Wealth LLC Reduces Holdings in Verizon Communications Inc. $VZ

Key Points

• NewEdge Wealth LLC cut its Verizon stake by 19.7% in the first quarter, selling 26,488 shares and ending with 107,700 shares worth about $5.41 million.
• Analysts are mixed on Verizon, with a consensus Hold rating and an average price target of $50.03, despite some firms maintaining or issuing Buy views.
• Verizon is trading below recent highs but still offers income: the stock recently opened at $43.91, and the company declared a quarterly dividend of $0.7075 per share, equal to a 6.4% annualized yield.

NewEdge Wealth LLC trimmed its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,700 shares of the cell phone carrier's stock after selling 26,488 shares during the quarter. NewEdge Wealth LLC's holdings in Verizon Communications were worth $5,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Lam Group Inc. bought a new stake in Verizon Communications during the 1st quarter valued at $28,000. Strengthening Families & Communities LLC grew its holdings in Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 539 shares during the last quarter. EQ Wealth Advisors LLC bought a new stake in Verizon Communications in the 4th quarter worth $29,000. Sarver Vrooman Wealth Advisors increased its position in shares of Verizon Communications by 173.0% in the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after acquiring an additional 448 shares during the period. Finally, Quattro Advisors LLC purchased a new position in shares of Verizon Communications in the fourth quarter valued at about $30,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VZ shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Dbs Bank downgraded Verizon Communications from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 7th. Wells Fargo & Company began coverage on Verizon Communications in a research note on Wednesday, July 8th. They issued an "equal weight" rating and a $43.00 price target for the company. Finally, Morgan Stanley lifted their price target on shares of Verizon Communications from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $50.03.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $43.91 on Friday. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. The firm's 50-day moving average is $45.39 and its 200 day moving average is $46.20. The stock has a market cap of $183.36 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.08 and a beta of 0.26. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm's quarterly revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.7075 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 6.4%. Verizon Communications's dividend payout ratio (DPR) is presently 69.02%.

Verizon Communications News Roundup

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon is highlighting new consumer products, including the Gizmo Watch 4 for families focused on child safety, which could support device sales and customer engagement. Verizon (VZ) Launches Gizmo Watch 4 For Families Focused On Child Safety
• Positive Sentiment: Verizon is also promoting major Samsung Galaxy Z Fold and wearable preorder deals, signaling continued carrier partnerships and potential upgrade-driven demand. Samsung's next-generation Z Fold meets simplicity & value on Verizon
• Neutral Sentiment: Multiple previews note that Verizon will report Q2 results before the bell on Friday, keeping the stock in focus as investors look for updates on wireless growth, margins, and guidance. Verizon (VZ) To Report Earnings Tomorrow: Here Is What To Expect
• Neutral Sentiment: Coverage ahead of earnings says Verizon is in a broad reset, selling 274 company-owned stores, cutting jobs, and leaning more on franchises to improve efficiency. Verizon Communications (VZ) Sells Stores And Cuts Jobs, Is The Stock Still A Bargain?
• Negative Sentiment: Analysts are watching whether Verizon’s restructuring and cost cuts are enough to offset growth concerns, including competitive pressure from rivals and fears around new Starlink-related offerings in the market. Verizon Earnings Will Put Cost Cuts and SpaceX Fears Under the Microscope
• Negative Sentiment: Peer news from T-Mobile and AT&T underscores a tougher wireless backdrop, with intensified competition and execution risks across the sector that could weigh on Verizon’s outlook. T-Mobile Falls Despite Earnings Beat. CEO Shoots Down Expanded Starlink Deal.

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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