Verizon Communications Inc. $VZ Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 55.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,956 shares of the cell phone carrier's stock after selling 36,199 shares during the period. GC Wealth Management RIA LLC's holdings in Verizon Communications were worth $1,179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VZ. TruNorth Capital Management LLC lifted its holdings in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier's stock valued at $27,000 after purchasing an additional 305 shares in the last quarter. Holos Integrated Wealth LLC acquired a new stake in shares of Verizon Communications in the fourth quarter valued at about $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications in the third quarter worth about $29,000. Daytona Street Capital LLC acquired a new position in Verizon Communications during the fourth quarter worth about $33,000. Finally, Accordant Advisory Group Inc boosted its position in Verizon Communications by 152.9% during the fourth quarter. Accordant Advisory Group Inc now owns 827 shares of the cell phone carrier's stock worth $34,000 after acquiring an additional 500 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Price Performance

Verizon Communications stock opened at $46.57 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.68. The firm has a market cap of $194.67 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.29. The company's 50 day moving average is $48.96 and its two-hundred day moving average is $43.97.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, topping the consensus estimate of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business had revenue of $34.44 billion during the quarter, compared to the consensus estimate of $34.79 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, research analysts expect that Verizon Communications Inc. will post 4.95 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Friday, April 10th. This is a positive change from Verizon Communications's previous quarterly dividend of $0.69. Verizon Communications's payout ratio is presently 69.02%.

Insiders Place Their Bets

In other news, Director Hans Erik Vestberg sold 200,000 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the completion of the transaction, the director directly owned 145,069 shares of the company's stock, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph J. Russo sold 9,579 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $44.88, for a total value of $429,905.52. Following the transaction, the executive vice president directly owned 44,045 shares of the company's stock, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 218,148 shares of company stock worth $10,780,356 in the last quarter. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on VZ shares. William Blair raised shares of Verizon Communications to an "outperform" rating in a research note on Monday, February 2nd. Sanford C. Bernstein reiterated a "market perform" rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on Verizon Communications from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Barclays boosted their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Verizon Communications has a consensus rating of "Moderate Buy" and a consensus price target of $50.41.

Verizon Communications 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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