Portland Investment Counsel Inc. grew its stake in Verizon Communications Inc. (NYSE:VZ – Free Report) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 894,200 shares of the cell phone carrier’s stock after purchasing an additional 29,200 shares during the quarter. Verizon Communications makes up approximately 10.6% of Portland Investment Counsel Inc.’s holdings, making the stock its 3rd biggest holding. Portland Investment Counsel Inc.’s holdings in Verizon Communications were worth $37,860,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the 1st quarter worth about $27,000. Lam Group Inc. acquired a new position in shares of Verizon Communications during the first quarter worth approximately $28,000. Strengthening Families & Communities LLC grew its stake in shares of Verizon Communications by 490.0% in the fourth 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 in the last quarter. EQ Wealth Advisors LLC bought a new position in Verizon Communications in the 4th quarter valued at about $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in shares of Verizon Communications by 173.0% during the fourth quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares during the period. 62.06% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total value of $55,066.00. Following the completion of the transaction, the chief executive officer directly owned 108,766 shares in the company, valued at approximately $5,444,825.96. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on Verizon Communications
Verizon Communications Stock Performance
VZ opened at $50.11 on Friday. Verizon Communications Inc. has a 12-month low of $38.39 and a 12-month high of $51.68. The stock’s 50 day moving average price is $45.91 and its two-hundred day moving average price is $47.42. The firm has a market capitalization of $208.20 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.38 and a beta of 0.25. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.
Verizon Communications (NYSE:VZ – Get Free Report) last released its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The firm had revenue of $34.25 billion during the quarter, compared to analysts’ expectations of $35.16 billion. During the same period in the prior year, the company earned $1.22 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts forecast 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. Stockholders of record on Friday, July 10th were given a dividend of $0.7075 per share. The ex-dividend date was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.6%. Verizon Communications’s payout ratio is currently 73.70%.
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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