New Mexico Educational Retirement Board grew its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 209,871 shares of the cell phone carrier’s stock after acquiring an additional 16,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Verizon Communications were worth $8,886,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. RKL Wealth Management LLC raised its position in shares of Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock valued at $268,000 after purchasing an additional 218 shares during the last quarter. Manchester Financial Inc. boosted its stake in Verizon Communications by 0.6% in the 2nd quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier’s stock worth $1,479,000 after purchasing an additional 218 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its position in Verizon Communications by 8.6% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after purchasing an additional 219 shares during the last quarter. Frazier Financial Advisors LLC grew its position in Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the last quarter. Finally, FAS Wealth Partners Inc. increased its stake in Verizon Communications by 1.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock valued at $925,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on VZ shares. Morgan Stanley raised their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Wells Fargo & Company boosted their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. TD Cowen raised their target price on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Scotiabank lifted their price target on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Hold” and an average price target of $50.84.
Insider Transactions at Verizon Communications
In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total value of $55,066.00. Following the sale, the chief executive officer directly owned 108,766 shares of the company’s stock, valued at approximately $5,444,825.96. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by corporate insiders.
Verizon Communications Stock Performance
VZ opened at $50.10 on Tuesday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $208.15 billion, a PE ratio of 13.05, a P/E/G ratio of 1.40 and a beta of 0.25. The firm has a 50 day moving average of $46.00 and a two-hundred day moving average of $47.44.
Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. The business had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, analysts anticipate that Verizon Communications Inc. will post 5.03 EPS for the current year.
Verizon Communications Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.7075 per share. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s payout ratio is currently 73.70%.
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.
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