Verizon Communications Inc. $VZ Shares Sold by Canal Insurance CO

Key Points

• Canal Insurance Co. cut its Verizon stake by 47.6% in the third quarter, selling 80,000 shares and retaining 88,000 shares valued at approximately $4.04 million.
• Other institutional investors generally increased their positions, with hedge funds and institutions collectively owning 62.06% of Verizon’s stock.
• Verizon maintains an attractive dividend, paying $0.7075 per share quarterly for a 6.4% yield, while analysts hold a consensus “Hold” rating with an average price target of $50.80.

Canal Insurance CO decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 47.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,000 shares of the cell phone carrier's stock after selling 80,000 shares during the period. Canal Insurance CO's holdings in Verizon Communications were worth $4,037,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. MBM Wealth Consultants LLC boosted its holdings in Verizon Communications by 21.5% during the third quarter. MBM Wealth Consultants LLC now owns 14,860 shares of the cell phone carrier's stock worth $682,000 after buying an additional 2,628 shares in the last quarter. 55 North Private Wealth LLC increased its holdings in Verizon Communications by 7.5% in the third quarter. 55 North Private Wealth LLC now owns 8,510 shares of the cell phone carrier's stock valued at $390,000 after buying an additional 596 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Verizon Communications by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 95,610 shares of the cell phone carrier's stock valued at $4,386,000 after buying an additional 4,556 shares in the last quarter. YANKCOM Partnership lifted its position in shares of Verizon Communications by 4.1% during the 3rd quarter. YANKCOM Partnership now owns 24,425 shares of the cell phone carrier's stock valued at $1,120,000 after acquiring an additional 973 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC lifted its position in shares of Verizon Communications by 1.1% during the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 35,806 shares of the cell phone carrier's stock valued at $1,642,000 after acquiring an additional 380 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

NYSE:VZ traded up $0.39 during mid-day trading on Tuesday, hitting $44.53. 6,832,377 shares of the company's stock traded hands, compared to its average volume of 27,130,619. 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 company has a market cap of $185.03 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. The firm's 50 day simple moving average is $47.83 and its 200 day simple moving average is $46.77. 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 announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, October 9th. Verizon Communications's payout ratio is currently 73.70%.

Key Verizon Communications News

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

• Positive Sentiment: Verizon’s Straight Talk prepaid brand upgraded its Silver, Gold and Platinum unlimited plans with more data, faster 5G and additional benefits without increasing base monthly prices. Home Internet bundle savings could support customer retention and subscriber growth. Straight Talk Supercharges Unlimited Plans with More Data, Faster 5G and Expanded Benefits
• Positive Sentiment: Verizon is introducing additional customer perks following price increases, an effort to add value and defend its wireless base as competition intensifies. The benefits may help offset customer sensitivity to higher prices. Verizon launches generous customer perks after raising prices
• Neutral Sentiment: Verizon formally objected to ICE and OKX offering tokenized versions of its shares. The move limits an unauthorized trading channel and reflects broader regulatory scrutiny, but is unlikely to materially affect Verizon’s operating results or valuation. Objections to ICE and OKX’s Tokenized Stock Venue Climb to Nine as Broadcom, Verizon Opt Out
• Negative Sentiment: Verizon underperformed its competitors during the latest market session, while the broader market advanced. Its shares recently closed at $44.10, down 1.54% from the previous session, highlighting continued relative weakness. Verizon Communications Inc. stock underperforms Monday when compared to competitors
• Negative Sentiment: Wall Street expects earnings growth in next week’s report, but a Zacks analysis says Verizon lacks the combination of estimate revisions and momentum that typically supports a likely earnings beat. That increases near-term event risk. Verizon Reports Next Week: Wall Street Expects Earnings Growth
• Negative Sentiment: Recent Q2 comparisons showed Verizon’s revenue declined year over year and lagged estimates, despite an adjusted EPS beat. Investors may remain focused on subdued top-line growth and competitive pressure heading into the next results.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Verizon Communications in a research note on Wednesday, August 26th. Moffett Nathanson dropped their price objective on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Scotiabank reduced their price objective on Verizon Communications from $51.50 to $50.00 and set a "sector outperform" rating for the company in a report on Friday, October 9th. Morgan Stanley lifted their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Finally, Royal Bank Of Canada boosted their target price on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $50.80.

Insider Activity

In related news, CEO Kyle Malady sold 1,100 shares of the company's stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $42.93, for a total value of $47,223.00. Following the sale, the chief executive officer owned 101,066 shares of the company's stock, valued at approximately $4,338,763.38. This represents a 1.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 8,800 shares of company stock worth $420,145. Insiders own 0.03% of the company's stock.

Verizon Communications Company Profile

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and digital connectivity services. Through its consumer business, Verizon offers mobile voice and data plans, smartphones and other connected devices, home internet, fixed wireless access, and fiber-optic broadband services under the Fios brand.

Verizon also serves businesses, government agencies, and other organizations with wireless connectivity, private networks, internet and data services, managed communications, cloud and security solutions, and Internet of Things services.

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