First County Bank CT Cuts Stock Position in Verizon Communications Inc. $VZ

First County Bank CT lowered its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 30.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,422 shares of the cell phone carrier’s stock after selling 12,497 shares during the period. First County Bank CT’s holdings in Verizon Communications were worth $1,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. TruNorth Capital Management LLC increased its holdings in shares of Verizon Communications by 95.3% in the third quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after purchasing an additional 305 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in Verizon Communications during the 3rd quarter valued at $29,000. Global Wealth Strategies & Associates raised its stake in shares of Verizon Communications by 739.5% in the third quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after acquiring an additional 599 shares during the period. Holos Integrated Wealth LLC purchased a new stake in Verizon Communications in the 4th quarter worth about $28,000. Finally, Silicon Valley Capital Partners raised its holdings in shares of Verizon Communications by 52.4% in the second quarter. Silicon Valley Capital Partners now owns 782 shares of the cell phone carrier’s stock worth $34,000 after buying an additional 269 shares during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Trading Down 0.8%

Verizon Communications stock opened at $50.34 on Friday. The stock’s 50 day simple moving average is $47.51 and its two-hundred day simple moving average is $43.27. Verizon Communications Inc. has a 12 month low of $38.39 and a 12 month high of $51.68. The firm has a market cap of $212.31 billion, a PE ratio of 12.43, a P/E/G ratio of 2.13 and a beta of 0.31. 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 released its quarterly earnings data 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 company had revenue of $36.38 billion during the quarter, compared to analysts’ expectations of $36.20 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Analysts anticipate that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The business 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 $0.7075 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is 68.15%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VZ. Barclays assumed coverage on shares of Verizon Communications in a research note on Thursday, January 22nd. They issued an “equal weight” rating and a $43.00 price target on the stock. Wells Fargo & Company boosted their price target on Verizon Communications from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Citigroup increased their target price on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, March 20th. JPMorgan Chase & Co. raised their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $50.32.

Insider Activity

In other news, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $44.88, for a total value of $429,905.52. Following the sale, the executive vice president owned 44,045 shares in the company, valued at $1,976,739.60. This trade represents a 17.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares in the company, valued at approximately $2,189,100. The trade was a 16.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 218,148 shares of company stock worth $10,780,356 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

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.