Richard C. Young & CO. LTD. trimmed its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,786 shares of the cell phone carrier's stock after selling 50,067 shares during the period. Richard C. Young & CO. LTD.'s holdings in Verizon Communications were worth $12,903,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of VZ. Brighton Jones LLC increased its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after acquiring an additional 16,704 shares during the last quarter. United Bank increased its holdings in Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after acquiring an additional 806 shares during the last quarter. Jump Financial LLC increased its holdings in Verizon Communications by 312.0% in the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after acquiring an additional 17,901 shares during the last quarter. HUB Investment Partners LLC grew its stake 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 buying an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP grew its stake in shares of Verizon Communications by 5.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after buying an additional 443 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors.
Key Headlines Impacting Verizon Communications
Here are the key news stories impacting Verizon Communications this week:
Insider Buying and Selling
In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president owned 43,782 shares in the company, valued at approximately $2,189,100. This represents a 16.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph J. Russo sold 9,579 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the transaction, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 218,148 shares of company stock worth $10,780,356 in the last 90 days. 0.10% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on VZ shares. Raymond James Financial reissued an "outperform" rating and issued a $56.00 price objective on shares of Verizon Communications in a research note on Thursday, March 12th. Scotiabank raised shares of Verizon Communications from a "sector perform" rating to a "sector outperform" rating and lifted their price target for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. Oppenheimer lifted their price target on shares of Verizon Communications from $50.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 11th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $48.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. Finally, Barclays lifted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $50.56.
View Our Latest Stock Analysis on VZ
Verizon Communications Price Performance
Shares of VZ opened at $46.46 on Friday. The company has a 50 day moving average price of $49.06 and a 200-day moving average price of $43.84. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The stock has a market capitalization of $194.20 billion, a PE ratio of 11.47, a PEG ratio of 1.21 and a beta of 0.29. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91.
Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $36.38 billion during the quarter, compared to analysts' expectations of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Equities analysts predict that Verizon Communications Inc. will post 4.9 earnings per share for the current fiscal year.
Verizon Communications Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This is a boost from Verizon Communications's previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. Verizon Communications's dividend payout ratio (DPR) is presently 69.88%.
Verizon Communications 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.
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