Verizon Communications Inc. $VZ Shares Sold by Ascentis Independent Advisors

Ascentis Independent Advisors lessened its holdings in Verizon Communications Inc. (NYSE:VZ - Free Report) by 96.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,895 shares of the cell phone carrier's stock after selling 88,477 shares during the quarter. Ascentis Independent Advisors' holdings in Verizon Communications were worth $123,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Strengthening Families & Communities LLC boosted its holdings in Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 539 shares in the last quarter. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at $27,000. Lam Group Inc. purchased a new position in shares of Verizon Communications in the 1st quarter valued at $28,000. EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the 4th quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors raised its stake in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock worth $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ stock opened at $48.15 on Tuesday. The stock has a fifty day moving average price of $45.35 and a 200 day moving average price of $47.11. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The stock has a market cap of $200.05 billion, a PE ratio of 12.54, a P/E/G ratio of 1.35 and a beta of 0.25. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $1.22 EPS. The firm's 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 forecast that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.9%. Verizon Communications's dividend payout ratio is currently 73.70%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VZ. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. Freedom Capital raised Verizon Communications to a "hold" rating in a report on Friday, June 12th. JPMorgan Chase & Co. upped their price target on shares of Verizon Communications from $49.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased 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 note on Monday, July 27th. Finally, Erste Group Bank restated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $50.84.

Verizon Communications Company 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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