Kingswood Wealth Advisors LLC lifted its stake in Verizon Communications Inc. (NYSE:VZ - Free Report) by 49.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,670 shares of the cell phone carrier's stock after acquiring an additional 30,510 shares during the period. Kingswood Wealth Advisors LLC's holdings in Verizon Communications were worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Cascade Financial Partners LLC lifted its stake in shares of Verizon Communications by 3.5% in the 3rd quarter. Cascade Financial Partners LLC now owns 7,318 shares of the cell phone carrier's stock worth $322,000 after acquiring an additional 250 shares during the period. Monetary Management Group Inc. lifted its stake in shares of Verizon Communications by 0.8% in the 2nd quarter. Monetary Management Group Inc. now owns 30,400 shares of the cell phone carrier's stock worth $1,315,000 after acquiring an additional 250 shares during the period. Hughes Financial Services LLC lifted its stake in shares of Verizon Communications by 5.3% in the 3rd quarter. Hughes Financial Services LLC now owns 5,035 shares of the cell phone carrier's stock worth $221,000 after acquiring an additional 255 shares during the period. Hager Investment Management Services LLC lifted its stake in shares of Verizon Communications by 26.2% in the 3rd quarter. Hager Investment Management Services LLC now owns 1,233 shares of the cell phone carrier's stock worth $54,000 after acquiring an additional 256 shares during the period. Finally, Western Financial Corp CA lifted its stake in shares of Verizon Communications by 1.4% in the 3rd quarter. Western Financial Corp CA now owns 18,522 shares of the cell phone carrier's stock worth $814,000 after acquiring an additional 258 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Stock Down 0.7%
VZ stock opened at $45.96 on Thursday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The firm has a market cap of $192.11 billion, a PE ratio of 11.35, a P/E/G ratio of 1.19 and a beta of 0.29. The firm has a 50 day simple moving average of $49.15 and a 200 day simple moving average of $43.76. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87.
Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The business had revenue of $36.38 billion during the quarter, compared to analyst estimates of $36.20 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.9 earnings per share for the current fiscal year.
Verizon Communications Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a $0.7075 dividend. 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 6.2%. Verizon Communications's payout ratio is currently 69.88%.
Wall Street Analysts Forecast Growth
VZ has been the subject of a number of research analyst reports. Scotiabank raised shares of Verizon Communications from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $50.25 to $54.50 in a research note on Monday, March 9th. JPMorgan Chase & Co. increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Tuesday, February 3rd. Erste Group Bank raised shares of Verizon Communications from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Weiss Ratings raised shares of Verizon Communications from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. Finally, William Blair raised shares of Verizon Communications to an "outperform" rating in a research note on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.56.
Read Our Latest Report on Verizon Communications
Insider Activity at Verizon Communications
In related news, Director Hans Erik Vestberg sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $49.61, for a total value of $9,922,000.00. Following the completion of the sale, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. This represents a 57.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the senior vice president owned 43,782 shares of the company's stock, valued at approximately $2,189,100. This trade represents a 16.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 218,148 shares of company stock worth $10,780,356. 0.10% of the stock is owned by corporate insiders.
Verizon Communications News Roundup
Here are the key news stories impacting Verizon Communications this week:
About Verizon Communications
(
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.
Featured Stories
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