Verizon Communications Inc. $VZ Stake Lessened by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,477 shares of the cell phone carrier’s stock after selling 42,007 shares during the period. Zions Bancorporation National Association UT’s holdings in Verizon Communications were worth $9,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hudock Inc. lifted its holdings in shares of Verizon Communications by 0.6% in the second quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier’s stock valued at $1,724,000 after buying an additional 238 shares during the period. McLean Asset Management Corp raised its position in Verizon Communications by 2.9% in the third quarter. McLean Asset Management Corp now owns 8,571 shares of the cell phone carrier’s stock worth $355,000 after acquiring an additional 243 shares in the last quarter. Red Spruce Capital LLC grew its stake in shares of Verizon Communications by 0.3% in the 3rd quarter. Red Spruce Capital LLC now owns 71,541 shares of the cell phone carrier’s stock worth $3,144,000 after purchasing an additional 246 shares during the last quarter. Camden National Bank raised its holdings in shares of Verizon Communications by 4.6% in the 2nd quarter. Camden National Bank now owns 5,666 shares of the cell phone carrier’s stock worth $245,000 after purchasing an additional 248 shares in the last quarter. Finally, FRG Family Wealth Advisors LLC lifted its stake in Verizon Communications by 1.8% during the second quarter. FRG Family Wealth Advisors LLC now owns 14,517 shares of the cell phone carrier’s stock valued at $628,000 after purchasing an additional 250 shares during the last quarter. 62.06% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $44.88, for a total transaction of $429,905.52. Following the completion of the sale, the executive vice president directly owned 44,045 shares in the company, valued at approximately $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Verizon Communications Stock Down 0.9%

Shares of Verizon Communications stock opened at $49.00 on Monday. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $50.24. The company has a market cap of $206.59 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.07 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. The stock has a 50-day moving average price of $41.60 and a 200 day moving average price of $41.93.

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

Verizon Communications Increases Dividend

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

Wall Street Analyst Weigh In

VZ has been the topic of several research reports. BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Tuesday, October 21st. Morgan Stanley boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. William Blair upgraded Verizon Communications to an “outperform” rating in a research report on Monday, February 2nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $48.00 price target on shares of Verizon Communications in a research note on Monday, February 2nd. Finally, TD Cowen reduced their price objective on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.02.

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.