Wealthfront Advisers LLC Has $27.34 Million Stake in Verizon Communications Inc. $VZ

Wealthfront Advisers LLC lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,791 shares of the cell phone carrier’s stock after selling 21,936 shares during the quarter. Wealthfront Advisers LLC’s holdings in Verizon Communications were worth $27,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of VZ. Robinswood Financial LLC acquired a new position in shares of Verizon Communications in the first quarter valued at approximately $27,000. Lam Group Inc. acquired a new stake in shares of Verizon Communications during the first quarter worth $28,000. Strengthening Families & Communities LLC raised its holdings in shares of Verizon Communications by 490.0% during the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 539 shares during the period. EQ Wealth Advisors LLC bought a new stake in Verizon Communications in the 4th quarter valued at $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock valued at $29,000 after acquiring an additional 448 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Up 0.1%

Verizon Communications stock opened at $50.19 on Wednesday. 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 1-year low of $38.39 and a 1-year high of $51.68. The company has a fifty day simple moving average of $45.65 and a 200 day simple moving average of $47.35. The company has a market cap of $208.52 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.25.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share 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 firm had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. The business’s quarterly revenue was down .7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Research analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a dividend 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%.

Insider Transactions at Verizon Communications

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

Analyst Ratings Changes

A number of equities analysts have issued reports on VZ shares. Scotiabank increased their target price on Verizon Communications from $51.50 to $52.50 and gave the stock a “sector outperform” rating in a report on Monday, July 27th. Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. Barclays upped their price objective 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. BNP Paribas Exane decreased their price objective on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Finally, Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Verizon Communications currently has a consensus rating of “Hold” and an average target price of $50.84.

Verizon Communications Company 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.