Verizon Communications Inc. $VZ Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its Verizon position by 3.9% in the second quarter, selling 22,090 shares and retaining 544,811 shares worth approximately $23.1 million. Institutional investors collectively own 62.06% of Verizon stock.
• Analysts maintain a generally cautious outlook, with nine Buy ratings and twelve Hold ratings; the consensus rating is Hold with an average price target of $50.84.
• Verizon reported quarterly EPS of $1.30, beating estimates, but revenue fell 0.7% year over year to $34.25 billion. The company pays an annualized dividend of $2.83 per share, yielding about 5.6%.

Commerce Bank lowered its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 544,811 shares of the cell phone carrier's stock after selling 22,090 shares during the period. Commerce Bank's holdings in Verizon Communications were worth $23,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RKL Wealth Management LLC raised its holdings in shares of Verizon Communications by 4.3% during the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock worth $268,000 after purchasing an additional 218 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Verizon Communications by 8.6% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier's stock valued at $113,000 after purchasing an additional 219 shares during the period. Frazier Financial Advisors LLC boosted its holdings in Verizon Communications by 32.7% in the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock valued at $45,000 after purchasing an additional 219 shares during the last quarter. FAS Wealth Partners Inc. boosted its holdings in Verizon Communications by 1.2% in the first quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier's stock valued at $925,000 after purchasing an additional 223 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Verizon Communications by 0.7% during the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier's stock worth $1,426,000 after purchasing an additional 227 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VZ shares. TD Cowen boosted their price objective on Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a report on Monday, July 27th. Royal Bank Of Canada raised their target price on Verizon Communications from $46.00 to $47.00 and gave the stock a "sector perform" rating in a report on Monday, July 27th. Wells Fargo & Company lifted their price target on Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, July 27th. BNP Paribas Exane decreased their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Finally, Morgan Stanley upped their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $50.84.

Verizon Communications Stock Up 1.4%

Shares of NYSE VZ opened at $50.11 on Friday. The firm has a market cap of $208.20 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.25. The company's 50-day simple moving average is $45.91 and its 200-day simple moving average is $47.42. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The company's revenue for the quarter was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. Verizon Communications's payout ratio is currently 73.70%.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the completion of the transaction, the chief executive officer directly owned 108,766 shares of the company's stock, valued at approximately $5,444,825.96. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.03% of the company's stock.

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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