Webster Bank N. A. decreased its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 55.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,232 shares of the cell phone carrier’s stock after selling 24,255 shares during the period. Webster Bank N. A.’s holdings in Verizon Communications were worth $965,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of VZ. Brighton Jones LLC raised its holdings in Verizon Communications by 61.2% in the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock worth $1,759,000 after purchasing an additional 16,704 shares in the last quarter. United Bank boosted its stake in shares of Verizon Communications by 11.5% during the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock valued at $339,000 after purchasing an additional 806 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Verizon Communications by 312.0% during the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier’s stock valued at $1,023,000 after purchasing an additional 17,901 shares in the last quarter. HUB Investment Partners LLC increased its position in shares of Verizon Communications by 17.2% during the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier’s stock valued at $1,779,000 after buying an additional 6,034 shares during the period. Finally, Vivaldi Capital Management LP raised its stake in Verizon Communications by 5.2% in the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after buying an additional 443 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Analyst Upgrades and Downgrades
VZ has been the subject of several research analyst reports. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Dbs Bank downgraded Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Oppenheimer raised their target price on Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Finally, JPMorgan Chase & Co. lifted their price target on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.59.
Verizon Communications Price Performance
Shares of NYSE VZ opened at $45.37 on Tuesday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The company has a 50 day simple moving average of $46.87 and a two-hundred day simple moving average of $45.72. The company has a market capitalization of $189.45 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.11 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64.
Verizon Communications (NYSE:VZ – Get Free Report) last released its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.07. The firm had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Analysts expect that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.2%. Verizon Communications’s payout ratio is presently 69.02%.
About Verizon Communications
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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