Verizon Communications Inc. $VZ Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 417,657 shares of the cell phone carrier’s stock after selling 21,989 shares during the period. Fifth Third Bancorp’s holdings in Verizon Communications were worth $18,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VZ. Hudock Inc. raised its holdings in Verizon Communications by 0.6% in the second quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier’s stock valued at $1,724,000 after buying an additional 238 shares during the period. McLean Asset Management Corp raised its stake in shares of Verizon Communications by 2.9% in the 3rd quarter. McLean Asset Management Corp now owns 8,571 shares of the cell phone carrier’s stock valued at $355,000 after acquiring an additional 243 shares during the period. Red Spruce Capital LLC lifted its holdings in shares of Verizon Communications by 0.3% during the 3rd quarter. Red Spruce Capital LLC now owns 71,541 shares of the cell phone carrier’s stock valued at $3,144,000 after acquiring an additional 246 shares in the last quarter. Camden National Bank boosted its position in Verizon Communications by 4.6% during the 2nd quarter. Camden National Bank now owns 5,666 shares of the cell phone carrier’s stock worth $245,000 after purchasing an additional 248 shares during the period. Finally, FRG Family Wealth Advisors LLC increased its holdings in Verizon Communications by 1.8% in the 2nd quarter. FRG Family Wealth Advisors LLC now owns 14,517 shares of the cell phone carrier’s stock valued at $628,000 after purchasing an additional 250 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VZ has been the topic of a number of recent research reports. Barclays started coverage on Verizon Communications in a research note on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price objective on the stock. Williams Trading set a $54.00 price target on Verizon Communications in a research report on Monday, February 2nd. Weiss Ratings raised shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Citigroup boosted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Finally, Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.02.

Insider Activity at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the sale, the executive vice president directly owned 44,045 shares in the company, valued at approximately $1,976,739.60. The trade was a 17.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Verizon Communications Trading Down 0.9%

VZ opened at $49.00 on Tuesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $50.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a market capitalization of $206.59 billion, a PE ratio of 12.10, a P/E/G ratio of 2.07 and a beta of 0.33. The firm’s fifty day moving average price is $41.76 and its 200 day moving average price is $41.97.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company had revenue of $36.38 billion during the quarter, compared to the consensus estimate of $36.20 billion. During the same quarter in the previous year, the firm earned $1.10 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, research analysts expect that Verizon Communications Inc. will post 4.69 EPS for the current fiscal year.

Verizon Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio (DPR) is 68.15%.

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.