Savvy Advisors Inc. Has $3.09 Million Stake in Verizon Communications Inc. $VZ

Savvy Advisors Inc. boosted its stake in Verizon Communications Inc. (NYSE:VZ) by 30.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,251 shares of the cell phone carrier’s stock after acquiring an additional 16,532 shares during the quarter. Savvy Advisors Inc.’s holdings in Verizon Communications were worth $3,088,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Advantage Trust Co lifted its stake in Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares in the last quarter. TruNorth Capital Management LLC raised its holdings in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after purchasing an additional 305 shares during the period. Global Wealth Strategies & Associates raised its stake in Verizon Communications by 739.5% in the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after buying an additional 599 shares during the period. Winnow Wealth LLC bought a new stake in Verizon Communications in the 2nd quarter valued at $34,000. Finally, Silicon Valley Capital Partners lifted its stake in shares of Verizon Communications by 52.4% during the 2nd quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 269 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Insider Transactions at Verizon Communications

In other news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the completion of the sale, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.10% of the company’s stock.

Verizon Communications Stock Performance

Shares of VZ stock opened at $48.90 on Thursday. The business’s 50-day moving average price is $41.30 and its 200-day moving average price is $41.84. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $49.14. The firm has a market capitalization of $206.16 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.00 and a beta of 0.33. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $36.38 billion for the quarter, compared to analysts’ expectations of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. Verizon Communications’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Equities research analysts forecast that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $0.7075 dividend. The ex-dividend date is Friday, April 10th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 5.8%. Verizon Communications’s dividend payout ratio is presently 68.15%.

Analysts Set New Price Targets

VZ has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. William Blair upgraded shares of Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. Sanford C. Bernstein reissued a “market perform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Monday, February 2nd. Evercore raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, Citigroup lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.02.

Verizon Communications Company 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.