MAI Capital Management Increases Stake in Verizon Communications Inc. $VZ

MAI Capital Management lifted its stake in Verizon Communications Inc. (NYSE:VZFree Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,005,992 shares of the cell phone carrier’s stock after buying an additional 21,050 shares during the quarter. MAI Capital Management’s holdings in Verizon Communications were worth $44,213,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. TruNorth Capital Management LLC increased its stake in Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after acquiring an additional 305 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Verizon Communications by 739.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after purchasing an additional 599 shares during the last quarter. Winnow Wealth LLC purchased a new position in shares of Verizon Communications in the 2nd quarter worth approximately $34,000. Silicon Valley Capital Partners increased its position 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 valued at $34,000 after purchasing an additional 269 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in Verizon Communications during the 3rd quarter valued at $35,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Stock Up 0.4%

Shares of VZ opened at $49.87 on Wednesday. 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 firm has a market cap of $210.35 billion, a P/E ratio of 12.31, a PEG ratio of 2.08 and a beta of 0.33. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $50.47. The stock’s 50 day moving average is $42.79 and its two-hundred day moving average is $42.23.

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

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.7075 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.7%. Verizon Communications’s dividend payout ratio is currently 68.15%.

Insider Activity

In other news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $44.88, for a total transaction of $429,905.52. Following the sale, the executive vice president owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. The trade was a 17.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

VZ has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. William Blair raised shares of Verizon Communications to an “outperform” rating in a research note on Monday, February 2nd. KeyCorp reiterated a “sector weight” rating on shares of Verizon Communications in a report on Monday, January 26th. JPMorgan Chase & Co. boosted their target price on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Monday, February 2nd. 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. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average price target of $49.02.

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Verizon Communications Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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