Verizon Communications Inc. $VZ Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in Verizon Communications Inc. (NYSE:VZ) by 18.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,219,648 shares of the cell phone carrier’s stock after buying an additional 1,618,118 shares during the quarter. Van ECK Associates Corp owned about 0.25% of Verizon Communications worth $432,700,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Nissay Asset Management Corp Japan increased its holdings in shares of Verizon Communications by 2.3% during the second quarter. Nissay Asset Management Corp Japan now owns 587,317 shares of the cell phone carrier’s stock valued at $24,867,000 after acquiring an additional 13,068 shares in the last quarter. Chapin Davis Inc. boosted its stake in Verizon Communications by 0.6% in the 2nd quarter. Chapin Davis Inc. now owns 43,897 shares of the cell phone carrier’s stock worth $1,859,000 after purchasing an additional 271 shares in the last quarter. Navellier & Associates Inc. boosted its stake in Verizon Communications by 47.3% in the 2nd quarter. Navellier & Associates Inc. now owns 31,259 shares of the cell phone carrier’s stock worth $1,323,000 after purchasing an additional 10,032 shares in the last quarter. Field & Main Bank grew its position in Verizon Communications by 4.6% during the 2nd quarter. Field & Main Bank now owns 24,592 shares of the cell phone carrier’s stock worth $1,041,000 after purchasing an additional 1,085 shares during the last quarter. Finally, Prosperitas Financial LLC increased its stake in Verizon Communications by 28.8% during the 2nd quarter. Prosperitas Financial LLC now owns 6,208 shares of the cell phone carrier’s stock valued at $263,000 after purchasing an additional 1,387 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 1,100 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $50.06, for a total transaction of $55,066.00. Following the sale, the chief executive officer directly owned 108,766 shares of the company’s stock, valued at approximately $5,444,825.96. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.03% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $50.10 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The company has a 50 day simple moving average of $46.00 and a two-hundred day simple moving average of $47.44. The stock has a market cap of $208.15 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25.

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

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued 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 dividend payout ratio is presently 73.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. 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 research note on Tuesday, July 14th. Scotiabank raised their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a research note on Monday, July 27th. Finally, TD Cowen lifted their price target on Verizon Communications from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.