Verizon Communications Inc. (NYSE:VZ) Sees Significant Decrease in Short Interest

Verizon Communications Inc. (NYSE:VZ) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 95,282,309 shares, a decline of 16.0% from the February 26th total of 113,473,590 shares. Based on an average daily trading volume, of 24,795,109 shares, the short-interest ratio is currently 3.8 days. Approximately 2.3% of the company’s shares are sold short.

Verizon Communications Stock Performance

Shares of VZ stock opened at $50.34 on Monday. The company has a market cap of $212.31 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.11 and a beta of 0.30. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.68. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $47.51 and a 200-day moving average of $43.27.

Verizon Communications (NYSE:VZ) last released its earnings results 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 company had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. Verizon Communications’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, equities analysts forecast that Verizon Communications will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.7075 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 68.15%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $50.25 to $54.50 in a research report on Monday, March 9th. Citigroup lifted their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a report on Tuesday, February 3rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and a consensus target price of $50.32.

Insider Activity

In other news, EVP Joseph J. Russo sold 9,579 shares of the 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 completion of 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 filing with the SEC, which is accessible through the SEC website. Also, Director Hans Erik Vestberg sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total value of $9,922,000.00. Following the transaction, the director owned 145,069 shares of the company’s stock, valued at $7,196,873.09. This trade represents a 57.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 218,148 shares of company stock valued at $10,780,356. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Verizon Communications

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Verizon Communications by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 379,402,347 shares of the cell phone carrier’s stock valued at $15,453,058,000 after purchasing an additional 5,497,598 shares in the last quarter. State Street Corp grew its holdings in Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after buying an additional 7,461,335 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Verizon Communications by 5.3% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its position in Verizon Communications by 0.9% in the 4th 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 buying an additional 867,694 shares during the last quarter. Finally, Norges Bank bought a new position in Verizon Communications during the 4th quarter valued at $2,357,158,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

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.