Verizon Communications Inc. $VZ Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in Verizon Communications Inc. (NYSE:VZ) by 54.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,330,651 shares of the cell phone carrier’s stock after selling 2,817,682 shares during the period. KBC Group NV’s holdings in Verizon Communications were worth $94,927,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. TruNorth Capital Management LLC lifted its position in Verizon Communications by 95.3% during the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after buying an additional 305 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Verizon Communications in the 3rd quarter worth $29,000. Global Wealth Strategies & Associates increased its stake in shares of Verizon Communications by 739.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock worth $30,000 after acquiring an additional 599 shares during the last quarter. Holos Integrated Wealth LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $28,000. Finally, Richardson Capital Management LLC acquired a new position in shares of Verizon Communications during the 3rd quarter valued at about $35,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the transaction, the executive vice president owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This trade represents a 17.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares of the company’s stock, valued at $2,189,100. This trade represents a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In 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.

Verizon Communications Stock Down 0.9%

Shares of NYSE:VZ opened at $45.06 on Thursday. The company has a market capitalization of $188.36 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.92 and a beta of 0.29. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The business has a 50-day moving average price of $49.24 and a 200 day moving average price of $43.66. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last posted its earnings results on Friday, January 30th. The cell phone carrier reported $1.09 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 analysts’ expectations of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. Verizon Communications’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 4.69 EPS 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 $0.7075 dividend. The ex-dividend date is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 6.3%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio (DPR) is currently 69.88%.

Wall Street Analysts Forecast Growth

VZ has been the subject of a number of analyst reports. Erste Group Bank raised shares of Verizon Communications from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $56.00 target price on shares of Verizon Communications in a report on Thursday, March 12th. Williams Trading set a $54.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. William Blair upgraded shares of Verizon Communications to an “outperform” rating in a report on Monday, February 2nd. Finally, Citigroup lifted their price target on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.56.

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.