Verizon Communications Inc. $VZ Holdings Lifted by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC boosted its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 37.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,369 shares of the cell phone carrier’s stock after buying an additional 48,982 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Verizon Communications were worth $7,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of VZ. Daiichi Life Insurance Co. Ltd. lifted its stake in Verizon Communications by 7.4% in the 2nd quarter. Daiichi Life Insurance Co. Ltd. now owns 453,618 shares of the cell phone carrier’s stock worth $19,206,000 after acquiring an additional 31,327 shares in the last quarter. CFO4Life Group LLC grew its stake in Verizon Communications by 13.9% during the 2nd quarter. CFO4Life Group LLC now owns 11,059 shares of the cell phone carrier’s stock valued at $468,000 after acquiring an additional 1,350 shares in the last quarter. Quantbot Technologies LP purchased a new position in Verizon Communications during the 2nd quarter valued at about $497,000. Farringdon Capital Ltd. acquired a new position in shares of Verizon Communications in the 2nd quarter valued at about $243,000. Finally, W1M Asset Management Ltd increased its holdings in shares of Verizon Communications by 11.0% in the 2nd quarter. W1M Asset Management Ltd now owns 25,239 shares of the cell phone carrier’s stock valued at $1,068,000 after purchasing an additional 2,491 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

Shares of VZ stock opened at $50.11 on Friday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The stock’s 50-day moving average is $45.91 and its two-hundred day moving average is $47.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57. The firm has a market cap of $208.20 billion, a P/E ratio of 13.05, a PEG ratio of 1.38 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 19.48% and a net margin of 11.64%.The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts predict that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s payout ratio is 73.70%.

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 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 completion of the sale, the chief executive officer directly owned 108,766 shares of the company’s stock, valued at $5,444,825.96. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on VZ. TD Cowen increased their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Barclays boosted their price objective 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. Morgan Stanley upped their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note 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 stock an “equal weight” rating in a research report on Monday, July 27th. Finally, Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.84.

About Verizon Communications

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.