Sanders Morris Harris LLC reduced its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 60.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,075 shares of the cell phone carrier’s stock after selling 12,195 shares during the period. Sanders Morris Harris LLC’s holdings in Verizon Communications were worth $342,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Verizon Communications by 61.2% during the 4th quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after buying an additional 16,704 shares during the period. United Bank raised its holdings in shares of Verizon Communications by 11.5% during the second quarter. United Bank now owns 7,843 shares of the cell phone carrier’s stock worth $339,000 after acquiring an additional 806 shares in the last quarter. Jump Financial LLC boosted 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 grew its stake in Verizon Communications by 17.2% in 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 in the last quarter. Finally, Vivaldi Capital Management LP increased its position in Verizon Communications by 5.2% in the 2nd quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier’s stock worth $389,000 after purchasing an additional 443 shares during the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.
Key Verizon Communications News
Here are the key news stories impacting Verizon Communications this week:
- Positive Sentiment: Verizon is waiving calling, texting and data charges for consumer and small-business customers affected by Washington wildfires through August 31 and has deployed a disaster-resilience connectivity vehicle. The effort could reinforce customer loyalty and Verizon’s reputation for network reliability. Verizon Helps Families Stay Connected During Washington Wildfires
- Neutral Sentiment: Verizon and other telecom executives have recently argued that satellite connectivity is unlikely to materially disrupt their core businesses in the near term. Satellite service currently focuses primarily on coverage gaps and emergency connectivity, rather than replacing mainstream cellular networks. SpaceX’s Starlink Threat Sends Telecom Stocks Lower Premarket
- Negative Sentiment: SpaceX plans to expand Starlink Mobile into a full-fledged wireless offering by 2027, using its satellite network and planned terrestrial assets to target consumer and enterprise customers served by Verizon, AT&T and T-Mobile. The prospect of additional competition raises concerns about customer losses, pricing pressure and higher promotional or network-investment costs for Verizon. Verizon Faces A New Threat As SpaceX Plans A Mobile Network
- Negative Sentiment: SpaceX executives indicated that Starlink Mobile could win “quite a few” customers from the major wireless carriers. This amplified investor concerns and contributed to weakness across wireless stocks, despite uncertainty about the scale and timing of the competitive impact. SpaceX says it’s coming for AT&T, Verizon, and T-Mobile customers
Verizon Communications Stock Performance
Verizon Communications (NYSE:VZ – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current year.
Verizon Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio is currently 73.70%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on VZ shares. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Wells Fargo & Company lifted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. BNP Paribas Exane dropped their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. TD Cowen lifted their price objective on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a report on Friday, June 12th. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.84.
Get Our Latest Stock Report on Verizon Communications
Verizon Communications 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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