Fox Run Management L.L.C. Increases Stock Position in Verizon Communications Inc. $VZ

Fox Run Management L.L.C. raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 447.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,319 shares of the cell phone carrier’s stock after purchasing an additional 19,060 shares during the period. Fox Run Management L.L.C.’s holdings in Verizon Communications were worth $987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Verizon Communications in the 4th quarter worth about $2,357,158,000. Bank of America Corp DE grew its stake in shares of Verizon Communications by 15.4% in the first 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 acquiring an additional 8,289,877 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 purchasing an additional 7,509,055 shares during the last quarter. State Street Corp lifted its position 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 purchasing an additional 7,461,335 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 purchasing an additional 5,851,715 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Trading Up 0.3%

Shares of Verizon Communications stock opened at $49.34 on Friday. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The company has a market capitalization of $205.00 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.37 and a beta of 0.25. The company has a fifty day moving average of $45.52 and a 200 day moving average of $47.29.

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

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.7075 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.7%. Verizon Communications’s payout ratio is currently 73.70%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $48.68, for a total transaction of $53,548.00. Following the completion of the sale, the chief executive officer directly owned 109,866 shares of the company’s stock, valued at $5,348,276.88. This trade represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen increased their price target on Verizon Communications from $54.00 to $56.00 and gave the company a “buy” rating in a report on Monday, July 27th. Scotiabank upped their price objective on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Finally, Barclays boosted their price target on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” 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. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and an average target price of $50.84.

About Verizon Communications

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.