Cadinha & Co. LLC Sells 18,990 Shares of Verizon Communications Inc. $VZ

Cadinha & Co. LLC lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,705 shares of the cell phone carrier’s stock after selling 18,990 shares during the quarter. Cadinha & Co. LLC’s holdings in Verizon Communications were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of VZ. Brighton Jones LLC lifted its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares during the last quarter. United Bank lifted its position in Verizon Communications by 11.5% during the second 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 during the last quarter. Jump Financial LLC lifted its position in Verizon Communications by 312.0% during the second 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 during the last quarter. HUB Investment Partners LLC lifted its position in 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 purchasing an additional 6,034 shares during the last quarter. Finally, Vivaldi Capital Management LP lifted its position in Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock valued at $389,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on VZ shares. Dbs Bank lowered shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein reiterated a “market perform” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Monday, February 2nd. Erste Group Bank upgraded shares of Verizon Communications from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Scotiabank upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $50.25 to $54.50 in a report on Monday, March 9th. Finally, Citigroup raised their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.56.

Get Our Latest Stock Report on Verizon Communications

Insider Buying and Selling

In related news, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the transaction, 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 transaction 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 transaction of $9,922,000.00. Following the completion of the transaction, the director directly owned 145,069 shares in the company, valued at $7,196,873.09. This represents a 57.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,148 shares of company stock valued at $10,780,356 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Trending Headlines about Verizon Communications

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

Verizon Communications Trading Up 2.7%

VZ stock opened at $47.23 on Friday. The company has a market capitalization of $197.43 billion, a PE ratio of 11.66, a P/E/G ratio of 1.18 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 firm’s 50-day moving average is $49.11 and its 200 day moving average is $43.79. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 4.9 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a $0.7075 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a yield of 6.0%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s payout ratio is 69.88%.

Verizon Communications Company 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

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

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