Silverlake Wealth Management LLC Sells 15,551 Shares of Verizon Communications Inc. $VZ

Silverlake Wealth Management LLC trimmed its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 12.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,030 shares of the cell phone carrier’s stock after selling 15,551 shares during the quarter. Verizon Communications accounts for about 0.8% of Silverlake Wealth Management LLC’s holdings, making the stock its 25th largest position. Silverlake Wealth Management LLC’s holdings in Verizon Communications were worth $4,447,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. RKL Wealth Management LLC grew its stake in Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier’s stock valued at $268,000 after purchasing an additional 218 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of Verizon Communications by 8.6% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier’s stock worth $113,000 after purchasing an additional 219 shares during the period. Frazier Financial Advisors LLC raised its stake in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the period. FAS Wealth Partners Inc. boosted its holdings in shares of Verizon Communications by 1.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 18,421 shares of the cell phone carrier’s stock worth $925,000 after buying an additional 223 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in Verizon Communications by 0.7% during the fourth quarter. Sumitomo Life Insurance Co. now owns 35,023 shares of the cell phone carrier’s stock valued at $1,426,000 after buying an additional 227 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 0.2%

Shares of VZ stock opened at $49.34 on Monday. The stock has a market capitalization of $205.00 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.38 and a beta of 0.25. The company’s fifty day simple moving average is $45.52 and its two-hundred day simple moving average is $47.30. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $51.68. 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 posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.7075 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 5.7%. Verizon Communications’s dividend payout ratio (DPR) is currently 73.70%.

Insider Buying and Selling

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of Verizon Communications stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $48.68, for a total transaction of $53,548.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on VZ. Royal Bank Of Canada raised their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Wells Fargo & Company increased 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 report on Monday, July 27th. Moffett Nathanson decreased their price target on shares of Verizon Communications from $56.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, July 20th. Scotiabank raised their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research note on Monday, July 27th. Finally, BNP Paribas Exane lowered their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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.