Flossbach Von Storch SE lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 105.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 197,549 shares of the cell phone carrier's stock after purchasing an additional 101,315 shares during the quarter. Flossbach Von Storch SE's holdings in Verizon Communications were worth $8,364,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. USS Investment Management Ltd boosted its position in shares of Verizon Communications by 4.6% during the 1st quarter. USS Investment Management Ltd now owns 713,156 shares of the cell phone carrier's stock valued at $35,790,000 after purchasing an additional 31,354 shares in the last quarter. Cornerstone Capital Inc. increased its holdings in Verizon Communications by 8.6% in the second 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. lifted its stake in Verizon Communications by 15.3% in the fourth quarter. Cibc World Market Inc. now owns 2,382,975 shares of the cell phone carrier's stock valued at $97,059,000 after buying an additional 316,854 shares during the period. University of Texas Texas AM Investment Management Co. lifted its stake in Verizon Communications by 127.0% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 184,170 shares of the cell phone carrier's stock valued at $7,798,000 after buying an additional 103,046 shares during the period. Finally, Keudell Morrison Wealth Management bought a new position in shares of Verizon Communications during the 4th quarter worth approximately $2,171,000. Hedge funds and other institutional investors own 62.06% of the company's stock.
Insider Buying and Selling
In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total transaction of $55,066.00. Following the completion of the sale, the chief executive officer directly owned 108,766 shares of the company's stock, valued at approximately $5,444,825.96. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company's stock.
Wall Street Analysts Forecast Growth
VZ has been the subject of several recent analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of Verizon Communications in a research report on Tuesday, May 5th. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Wells Fargo & Company raised their price target 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. BNP Paribas Exane decreased their price target on shares of Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Finally, Morgan Stanley upped their price objective 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. Nine investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Verizon Communications presently has an average rating of "Hold" and an average target price of $50.84.
Get Our Latest Analysis on VZ
Verizon Communications Stock Down 0.1%
Verizon Communications stock opened at $50.18 on Thursday. Verizon Communications Inc. has a 1-year low of $38.39 and a 1-year high of $51.68. The firm has a market capitalization of $208.49 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.25. The firm's fifty day moving average price is $45.73 and its two-hundred day moving average price is $47.38. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.
Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion during the quarter, compared to analysts' expectations of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business's revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.
Verizon Communications Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.7075 per share. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications's payout ratio is 73.70%.
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.
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