Verizon Communications Inc. $VZ Stock Position Decreased by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,250,633 shares of the cell phone carrier’s stock after selling 30,468 shares during the quarter. Verizon Communications makes up approximately 0.9% of Advisors Asset Management Inc.’s holdings, making the stock its 9th biggest position. Advisors Asset Management Inc.’s holdings in Verizon Communications were worth $54,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Brighton Jones LLC raised its holdings in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after acquiring an additional 16,704 shares during the period. MGO One Seven LLC grew its position in shares of Verizon Communications by 6.6% during the second quarter. MGO One Seven LLC now owns 71,217 shares of the cell phone carrier’s stock worth $3,082,000 after purchasing an additional 4,380 shares in the last quarter. Lion Street Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter valued at approximately $207,000. Vest Financial LLC lifted its holdings in Verizon Communications by 32.5% in the 2nd quarter. Vest Financial LLC now owns 149,226 shares of the cell phone carrier’s stock worth $6,457,000 after purchasing an additional 36,634 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Verizon Communications by 6.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 275,659 shares of the cell phone carrier’s stock worth $11,928,000 after purchasing an additional 15,862 shares during the period. Institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VZ. Evercore lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Royal Bank Of Canada raised their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. lifted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Barclays began coverage on shares of Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price objective for the company. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 target price on shares of Verizon Communications in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.02.

Get Our Latest Stock Report on VZ

Key Headlines Impacting Verizon Communications

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

Insiders Place Their Bets

In other news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the sale, the executive vice president 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Verizon Communications Stock Up 0.7%

Shares of NYSE:VZ opened at $47.37 on Wednesday. The company has a market cap of $199.73 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.98 and a beta of 0.33. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $47.79. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $41.13 and a 200 day moving average price of $41.79.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 6.0%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 68.15%.

Verizon Communications Company Profile

(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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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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