Patrick Mauro Investment Advisor INC. boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ – Free Report) by 4.7% in the second quarter, HoldingsChannel reports. The fund owned 256,759 shares of the cell phone carrier’s stock after buying an additional 11,441 shares during the quarter. Verizon Communications accounts for 5.5% of Patrick Mauro Investment Advisor INC.’s portfolio, making the stock its 5th biggest holding. Patrick Mauro Investment Advisor INC.’s holdings in Verizon Communications were worth $10,871,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. RKL Wealth Management LLC boosted its holdings in shares of Verizon Communications by 4.3% during the first quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock worth $268,000 after purchasing an additional 218 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Verizon Communications by 8.6% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after acquiring an additional 219 shares during the last quarter. Frazier Financial Advisors LLC grew its stake in Verizon Communications by 32.7% in the first quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after purchasing an additional 219 shares in the last quarter. FAS Wealth Partners Inc. grew its stake in Verizon Communications by 1.2% in the first 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. Finally, Sumitomo Life Insurance Co. increased its position in Verizon Communications by 0.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock worth $1,426,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Insider Buying and Selling
In other news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction that occurred 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 transaction, the chief executive officer owned 108,766 shares of the company’s stock, valued at $5,444,825.96. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Price 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, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company had revenue of $34.25 billion during the quarter, compared to the consensus estimate of $35.16 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The firm’s revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities research analysts predict that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.
Verizon Communications Dividend Announcement
The business also recently announced 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. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s dividend payout ratio is presently 73.70%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a research note on Friday, May 29th. TD Cowen increased their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Scotiabank raised their price objective on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of Verizon Communications from $46.00 to $47.00 and gave the company a “sector perform” rating in a research note on Monday, July 27th. Finally, Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Nine research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications presently has a consensus rating of “Hold” and an average price target of $50.84.
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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