Verizon Communications Inc. $VZ Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 7.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,499 shares of the cell phone carrier’s stock after selling 11,648 shares during the period. Kingsview Wealth Management LLC’s holdings in Verizon Communications were worth $6,245,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Verizon Communications in the 4th quarter valued at $2,357,158,000. Bank of America Corp DE raised its holdings in Verizon Communications by 15.4% during the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock worth $3,117,471,000 after buying an additional 8,289,877 shares during the period. Bank of New York Mellon Corp lifted its stake in Verizon Communications by 31.2% during the fourth quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock valued at $1,286,423,000 after buying an additional 7,509,055 shares in the last quarter. State Street Corp lifted its stake in Verizon Communications by 3.5% during the fourth quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock valued at $9,080,810,000 after buying an additional 7,461,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Verizon Communications by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after buying an additional 5,851,715 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Verizon Communications

In other news, CEO Kyle Malady sold 1,100 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $50.06, for a total transaction of $55,066.00. Following the transaction, the chief executive officer owned 108,766 shares in the company, valued at approximately $5,444,825.96. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company insiders.

Verizon Communications Stock Performance

Verizon Communications stock opened at $50.10 on Tuesday. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The stock has a market cap of $208.15 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.40 and a beta of 0.25. The company’s fifty day simple moving average is $46.00 and its 200-day simple moving average is $47.44.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. During the same period last year, the company earned $1.22 earnings per share. Verizon Communications’s quarterly revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts forecast that Verizon Communications Inc. will post 5.03 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.7075 dividend. This represents a $2.83 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, July 10th. Verizon Communications’s payout ratio is currently 73.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VZ shares. TD Cowen boosted their price target on shares of Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. BNP Paribas Exane reduced their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Barclays raised their target price on Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. Finally, Royal Bank Of Canada increased their price objective on Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.