Zions Bancorporation National Association UT Has $9.60 Million Position in Verizon Communications Inc. $VZ

Zions Bancorporation National Association UT lessened its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,477 shares of the cell phone carrier’s stock after selling 42,007 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Verizon Communications were worth $9,602,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in VZ. Advantage Trust Co lifted its stake in shares of Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. TruNorth Capital Management LLC increased its position in Verizon Communications by 95.3% during the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after buying an additional 305 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in 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 in the last quarter. Winnow Wealth LLC acquired a new stake in shares of Verizon Communications in the second quarter worth about $34,000. Finally, Silicon Valley Capital Partners boosted its stake 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 worth $34,000 after acquiring an additional 269 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VZ. Royal Bank Of Canada raised their price objective on Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Citigroup lifted their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. TD Cowen reduced their price objective on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. KeyCorp reiterated a “sector weight” rating on shares of Verizon Communications in a research note on Monday, January 26th. Finally, Barclays assumed coverage on shares of Verizon Communications in a report on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.02.

Insider Transactions at Verizon Communications

In other Verizon Communications news, EVP Joseph J. Russo sold 9,579 shares of the firm’s stock in a transaction that occurred on 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 approximately $1,976,739.60. This trade represents a 17.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

Verizon Communications Trading Down 0.9%

Shares of Verizon Communications stock opened at $49.00 on Monday. The company has a market cap of $206.59 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.07 and a beta of 0.33. Verizon Communications Inc. has a 1 year low of $38.39 and a 1 year high of $50.24. The company’s fifty day simple moving average is $41.60 and its 200-day simple moving average is $41.93. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 1.32.

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

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, April 10th. Verizon Communications’s dividend payout ratio is presently 68.15%.

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.