Swiss National Bank Sells 620,700 Shares of Verizon Communications Inc. $VZ

Swiss National Bank lessened its stake in Verizon Communications Inc. (NYSE:VZ) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,153,698 shares of the cell phone carrier’s stock after selling 620,700 shares during the quarter. Swiss National Bank owned 0.29% of Verizon Communications worth $534,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC increased its stake in Verizon Communications by 95.3% during 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 in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Verizon Communications in the third quarter worth approximately $29,000. Global Wealth Strategies & Associates grew its holdings in shares of Verizon Communications by 739.5% during 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 last quarter. Winnow Wealth LLC bought a new stake in shares of Verizon Communications during the second quarter valued at approximately $34,000. Finally, Silicon Valley Capital Partners increased its position in shares of Verizon Communications by 52.4% during the second quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock valued at $34,000 after acquiring an additional 269 shares in the last quarter. Institutional investors own 62.06% of the company’s stock.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Joseph J. Russo sold 9,579 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was 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. This represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $50.00, for a total transaction of $428,450.00. Following the sale, the senior vice president owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 218,148 shares of company stock valued at $10,780,356. Company insiders own 0.10% of the company’s stock.

Verizon Communications Trading Down 0.0%

Verizon Communications stock opened at $51.17 on Monday. Verizon Communications Inc. has a 52-week low of $38.39 and a 52-week high of $51.41. The company has a market cap of $215.82 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.14 and a beta of 0.30. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The business has a 50-day simple moving average of $44.40 and a two-hundred day simple moving average of $42.59.

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 firm 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%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Analysts predict that Verizon Communications Inc. will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a dividend of $0.7075 per share. This represents a $2.83 annualized dividend and a yield of 5.5%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 68.15%.

Analyst Ratings Changes

VZ has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Verizon Communications in a research report on Monday, February 2nd. Royal Bank Of Canada lifted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.