NewEdge Advisors LLC Sells 12,235 Shares of Verizon Communications Inc. $VZ

NewEdge Advisors LLC cut its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 1.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 792,908 shares of the cell phone carrier’s stock after selling 12,235 shares during the quarter. NewEdge Advisors LLC’s holdings in Verizon Communications were worth $39,804,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in VZ. Strengthening Families & Communities LLC lifted its holdings in shares of Verizon Communications by 490.0% during 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 during the period. Lam Group Inc. acquired a new stake in Verizon Communications in the first quarter valued at $28,000. EQ Wealth Advisors LLC acquired a new stake in Verizon Communications in the fourth quarter valued at $29,000. Sarver Vrooman Wealth Advisors raised its position in Verizon Communications by 173.0% during the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after purchasing an additional 448 shares during the last quarter. Finally, Quattro Advisors LLC bought a new position in Verizon Communications during the 4th quarter worth $30,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $46.89 on Friday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The firm has a market capitalization of $194.80 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.29 and a beta of 0.25. The business has a 50-day simple moving average of $45.20 and a 200 day simple moving average of $46.70. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The business had revenue of $34.25 billion during 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%. Verizon Communications’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, research analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.0%. Verizon Communications’s dividend payout ratio (DPR) is 73.70%.

Analyst Ratings Changes

A number of research firms have commented on VZ. Morgan Stanley upped their price target on Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Wells Fargo & Company raised their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. TD Cowen lifted 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. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Finally, Barclays increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.