Vise Technologies Inc. lifted its position in Verizon Communications Inc. (NYSE:VZ - Free Report) by 126.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,148 shares of the cell phone carrier's stock after acquiring an additional 236,012 shares during the quarter. Vise Technologies Inc.'s holdings in Verizon Communications were worth $17,874,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier's stock valued at $9,080,810,000 after buying an additional 7,461,335 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier's stock worth $4,747,930,000 after buying an additional 5,851,715 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Verizon Communications by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 102,632,509 shares of the cell phone carrier's stock valued at $4,168,080,000 after acquiring an additional 867,694 shares in the last quarter. Bank of America Corp DE increased its position in shares of Verizon Communications by 15.4% during the first quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier's stock valued at $3,117,471,000 after acquiring an additional 8,289,877 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $2,357,158,000. Hedge funds and other institutional investors own 62.06% of the company's stock.
Verizon Communications Stock Performance
Shares of VZ stock opened at $50.18 on Thursday. The firm's 50 day moving average is $45.73 and its 200 day moving average is $47.38. The stock has a market capitalization of $208.49 billion, a P/E ratio of 13.07, a PEG ratio of 1.40 and a beta of 0.25. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36.
Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share 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 business had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same period in the previous year, the business earned $1.22 EPS. Verizon Communications's revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.
Verizon Communications Dividend Announcement
The business 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 5.6%. Verizon Communications's payout ratio is 73.70%.
Wall Street Analyst Weigh In
Several research firms have weighed in on VZ. Morgan Stanley boosted 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. Moffett Nathanson lowered their target price on Verizon Communications from $56.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, July 20th. Royal Bank Of Canada boosted their price target on shares of 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 increased 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 Monday, July 27th. Finally, Scotiabank raised their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a "sector outperform" rating in a report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of "Hold" and an average price target of $50.84.
Read Our Latest Stock Report on VZ
Insider Buying and Selling at Verizon Communications
In related news, CEO Kyle Malady sold 1,100 shares of the business's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total transaction of $55,066.00. Following the sale, the chief executive officer directly owned 108,766 shares in the company, valued at approximately $5,444,825.96. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.03% of the company's stock.
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.
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