Private Advisory Group LLC boosted its holdings in Verizon Communications Inc. (NYSE:VZ – Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,405 shares of the cell phone carrier’s stock after acquiring an additional 16,744 shares during the quarter. Private Advisory Group LLC’s holdings in Verizon Communications were worth $8,824,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Strengthening Families & Communities LLC grew its stake in shares of Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 539 shares during the last quarter. Robinswood Financial LLC acquired a new stake in Verizon Communications during the first quarter valued at approximately $27,000. Lam Group Inc. acquired a new stake in Verizon Communications during the first quarter valued at approximately $28,000. EQ Wealth Advisors LLC bought a new stake in Verizon Communications during the fourth quarter worth approximately $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its holdings in Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after buying an additional 448 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Verizon Communications
In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $48.68, for a total transaction of $53,548.00. Following the sale, the chief executive officer directly owned 109,866 shares of the company’s stock, valued at $5,348,276.88. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.
Verizon Communications Stock Performance
Verizon Communications (NYSE:VZ – Get Free Report) last released its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The business 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 firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts expect that Verizon Communications Inc. will post 5.03 earnings per share for the current year.
Verizon Communications Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 5.7%. The ex-dividend date was Friday, July 10th. Verizon Communications’s payout ratio is presently 73.70%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Freedom Capital upgraded shares of Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Wells Fargo & Company increased their price objective on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. TD Cowen raised their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Scotiabank lifted their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.84.
Get Our Latest Research Report on VZ
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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