Swiss National Bank Decreases Stock Holdings in Verizon Communications Inc. $VZ

Swiss National Bank cut its holdings in Verizon Communications Inc. (NYSE:VZ) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,153,698 shares of the cell phone carrier’s stock after selling 620,700 shares during the period. Swiss National Bank’s holdings in Verizon Communications were worth $534,155,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. LGT Group Foundation boosted its position in Verizon Communications by 3.6% in the 3rd quarter. LGT Group Foundation now owns 364,992 shares of the cell phone carrier’s stock valued at $15,998,000 after buying an additional 12,637 shares during the period. Aull & Monroe Investment Management Corp grew its holdings in Verizon Communications by 1.7% during the 3rd quarter. Aull & Monroe Investment Management Corp now owns 54,629 shares of the cell phone carrier’s stock worth $2,401,000 after acquiring an additional 934 shares in the last quarter. Russell Investments Group Ltd. increased its position in Verizon Communications by 2.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,805,509 shares of the cell phone carrier’s stock valued at $166,950,000 after purchasing an additional 80,893 shares during the period. Schroder Investment Management Group raised its holdings in shares of Verizon Communications by 2.9% in the 3rd quarter. Schroder Investment Management Group now owns 8,086,626 shares of the cell phone carrier’s stock valued at $355,407,000 after purchasing an additional 226,547 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Verizon Communications by 21.8% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 9,039 shares of the cell phone carrier’s stock valued at $397,000 after acquiring an additional 1,619 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $51.17 on Monday. Verizon Communications Inc. has a 52 week low of $38.39 and a 52 week high of $51.41. The business’s 50 day moving average price is $44.40 and its 200 day moving average price is $42.59. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market cap of $215.82 billion, a P/E ratio of 12.63, a P/E/G ratio of 2.14 and a beta of 0.30.

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

Verizon Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, April 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.69. Verizon Communications’s dividend payout ratio is 68.15%.

Analyst Upgrades and Downgrades

VZ has been the topic of a number of recent analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada increased their price target 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. Scotiabank boosted their price target on Verizon Communications from $48.00 to $50.25 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley raised their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.02.

Insider Activity at Verizon Communications

In related news, EVP Joseph J. Russo sold 9,579 shares of the stock in a transaction 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 sale, the executive vice president directly 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 this hyperlink. Also, SVP Mary-Lee Stillwell sold 8,569 shares of Verizon Communications stock in a transaction 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 completion of the transaction, the senior vice president directly owned 43,782 shares of the company’s stock, valued at $2,189,100. The trade was a 16.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 218,148 shares of company stock worth $10,780,356 in the last three months. Company insiders own 0.10% of the company’s stock.

Verizon Communications 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.