Verizon Communications Inc. $VZ Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its position in shares of Verizon Communications Inc. (NYSE:VZFree Report) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,743 shares of the cell phone carrier’s stock after selling 21,239 shares during the quarter. Parallel Advisors LLC’s holdings in Verizon Communications were worth $7,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. TruNorth Capital Management LLC grew its holdings in shares of 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 period. Foster Dykema Cabot & Partners LLC acquired a new position in Verizon Communications during the third quarter worth $29,000. Global Wealth Strategies & Associates boosted its position 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 worth $30,000 after purchasing an additional 599 shares in the last quarter. Winnow Wealth LLC purchased a new stake in Verizon Communications during the second quarter worth $34,000. Finally, Silicon Valley Capital Partners grew its holdings in Verizon Communications by 52.4% in the second 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. Institutional investors and hedge funds own 62.06% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Joseph J. Russo sold 9,579 shares of the company’s 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 transaction, the executive vice president owned 44,045 shares of the company’s stock, valued at approximately $1,976,739.60. This represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mary-Lee Stillwell sold 8,569 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $50.00, for a total transaction of $428,450.00. Following the transaction, the senior vice president directly owned 43,782 shares in the company, valued at $2,189,100. The trade was a 16.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,148 shares of company stock valued at $10,780,356 in the last ninety days. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Evercore boosted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Royal Bank Of Canada increased their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 3rd. Morgan Stanley lifted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Finally, William Blair raised shares of Verizon Communications to an “outperform” rating 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 assigned a Hold rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and an average target price of $49.02.

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Verizon Communications Stock Performance

NYSE VZ opened at $51.17 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. Verizon Communications Inc. has a fifty-two week low of $38.39 and a fifty-two week high of $51.41. The business has a fifty day moving average of $44.40 and a 200-day moving average of $42.60. The stock has a market cap of $215.82 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.31.

Verizon Communications (NYSE:VZGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. Verizon Communications had a return on equity of 19.03% and a net margin of 12.43%.The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. As a group, 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. Shareholders of record on Friday, April 10th will be paid a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 annualized dividend and a dividend yield of 5.5%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is 68.15%.

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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