Kingsview Wealth Management LLC Sells 11,648 Shares of Verizon Communications Inc. $VZ

Kingsview Wealth Management LLC reduced its stake in Verizon Communications Inc. (NYSE:VZ) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 147,499 shares of the cell phone carrier’s stock after selling 11,648 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Verizon Communications were worth $6,245,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the first quarter valued at approximately $27,000. Lam Group Inc. bought a new stake in shares of Verizon Communications during the 1st quarter worth $28,000. Strengthening Families & Communities LLC boosted its holdings in shares of Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock worth $26,000 after buying an additional 539 shares during the period. Sarver Vrooman Wealth Advisors grew its stake 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 buying an additional 448 shares during the last quarter. Finally, Quattro Advisors LLC acquired a new position in Verizon Communications in the 4th quarter valued at $30,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

NYSE:VZ opened at $50.10 on Tuesday. The stock has a market cap of $208.15 billion, a P/E ratio of 13.05, a PEG ratio of 1.40 and a beta of 0.25. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.68. The company has a fifty day moving average price of $46.00 and a 200 day moving average price of $47.44. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.60 and a quick ratio of 0.57.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The company 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% on a year-over-year basis. During the same period last year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Analysts anticipate that Verizon Communications Inc. will post 5.03 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.7075 dividend. This represents a $2.83 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 73.70%.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 1,100 shares of Verizon Communications 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 $5,444,825.96. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Scotiabank raised their price target on Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Barclays lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, July 27th. Freedom Capital raised Verizon Communications to a “hold” rating in a research report on Friday, June 12th. Finally, Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a research note on Tuesday, May 5th. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and a consensus price target 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.