E. Ohman J or Asset Management AB Sells 12,645 Shares of Verizon Communications Inc. $VZ

E. Ohman J or Asset Management AB lessened its position in shares of Verizon Communications Inc. (NYSE:VZ) by 6.6% during the first quarter, Holdings Channel reports. The institutional investor owned 180,336 shares of the cell phone carrier’s stock after selling 12,645 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Verizon Communications were worth $9,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strengthening Families & Communities LLC lifted its holdings in Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 539 shares during the last quarter. Holos Integrated Wealth LLC bought a new position in Verizon Communications during the fourth quarter worth about $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications in the third quarter worth about $29,000. EQ Wealth Advisors LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth about $29,000. Finally, Sarver Vrooman Wealth Advisors increased its stake in shares of Verizon Communications by 173.0% in the fourth 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 in the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.1%

Shares of VZ opened at $45.44 on Friday. Verizon Communications Inc. has a twelve month low of $38.39 and a twelve month high of $51.68. The stock has a market cap of $189.72 billion, a PE ratio of 11.08, a P/E/G ratio of 1.11 and a beta of 0.24. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $46.92 and its 200-day moving average price is $45.66.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. Verizon Communications’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $1.19 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities analysts forecast that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 69.02%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VZ shares. Barclays upped their price target on shares of Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 31st. Erste Group Bank reiterated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 7th. Oppenheimer boosted their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, March 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.59.

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.