Verizon Communications Inc. $VZ Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its position in Verizon Communications Inc. (NYSE:VZFree Report) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,089,041 shares of the cell phone carrier’s stock after buying an additional 1,088,600 shares during the period. First Trust Advisors LP owned 0.33% of Verizon Communications worth $619,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake in Verizon Communications by 4.3% during the third quarter. SBI Securities Co. Ltd. now owns 335,856 shares of the cell phone carrier’s stock worth $14,761,000 after purchasing an additional 13,787 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Verizon Communications by 14.0% during the third quarter. Stratos Wealth Partners LTD. now owns 379,174 shares of the cell phone carrier’s stock worth $16,665,000 after buying an additional 46,699 shares during the period. Wedbush Securities Inc. grew its stake in shares of Verizon Communications by 18.4% in the third quarter. Wedbush Securities Inc. now owns 140,981 shares of the cell phone carrier’s stock valued at $6,196,000 after buying an additional 21,915 shares in the last quarter. Assetmark Inc. grew its stake in shares of Verizon Communications by 2.8% in the third quarter. Assetmark Inc. now owns 3,667,402 shares of the cell phone carrier’s stock valued at $161,182,000 after buying an additional 99,400 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in shares of Verizon Communications by 378.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 93,732 shares of the cell phone carrier’s stock valued at $4,120,000 after buying an additional 74,151 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley increased their target price on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Williams Trading set a $54.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. William Blair raised shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.02.

Read Our Latest Analysis on VZ

Insider Activity at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total value of $428,450.00. Following the sale, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph J. Russo sold 9,579 shares of the company’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. The SEC filing for this sale provides additional information. Insiders have sold 218,148 shares of company stock valued at $10,780,356 over the last quarter. 0.10% of the stock is owned by insiders.

Verizon Communications Stock Down 0.0%

VZ stock opened at $51.17 on Friday. The company’s 50 day moving average price is $44.40 and its 200 day moving average price is $42.62. The firm has a market capitalization of $215.82 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.14 and a beta of 0.31. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.91.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate 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. Investors of record on Friday, April 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.5%. Verizon Communications’s payout ratio is presently 68.15%.

Key Verizon Communications News

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

Verizon Communications 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.

Further Reading

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

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