Wilmington Savings Fund Society FSB Has $16.55 Million Stake in Verizon Communications Inc. $VZ

Wilmington Savings Fund Society FSB decreased its position in shares of Verizon Communications Inc. (NYSE:VZ) by 9.3% in the third quarter, Holdings Channel reports. The fund owned 376,660 shares of the cell phone carrier’s stock after selling 38,804 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Verizon Communications were worth $16,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC increased its stake in shares of Verizon Communications by 9.6% in the third quarter. Asset Dedication LLC now owns 40,760 shares of the cell phone carrier’s stock worth $1,791,000 after purchasing an additional 3,564 shares during the period. Caerus Investment Advisors LLC acquired a new position in shares of Verizon Communications during the third quarter worth approximately $442,000. First Commonwealth Financial Corp PA boosted its position in shares of Verizon Communications by 5.9% in the third quarter. First Commonwealth Financial Corp PA now owns 26,732 shares of the cell phone carrier’s stock valued at $1,175,000 after acquiring an additional 1,499 shares during the period. Center For Asset Management LLC boosted its position in shares of Verizon Communications by 6.9% in the third quarter. Center For Asset Management LLC now owns 28,959 shares of the cell phone carrier’s stock valued at $1,273,000 after acquiring an additional 1,871 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in shares of Verizon Communications by 2.7% in the third quarter. Coldstream Capital Management Inc. now owns 206,801 shares of the cell phone carrier’s stock worth $9,089,000 after acquiring an additional 5,420 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Stock Down 0.9%

Shares of VZ stock opened at $50.52 on Wednesday. Verizon Communications Inc. has a one year low of $38.39 and a one year high of $51.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87. The stock has a fifty day moving average price of $45.83 and a 200 day moving average price of $42.90. The stock has a market cap of $213.07 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.13 and a beta of 0.31.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 30th. The cell phone carrier reported $1.09 earnings per share (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 firm had revenue of $36.38 billion for the quarter, compared to analyst estimates of $36.20 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’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 predict that Verizon Communications Inc. will post 4.69 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently announced 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 is an increase from Verizon Communications’s previous quarterly dividend of $0.69. This represents a $2.83 dividend on an annualized basis and a yield of 5.6%. Verizon Communications’s payout ratio is presently 68.15%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Oppenheimer upped their target price on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. Citigroup raised their price target on shares of Verizon Communications from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Barclays assumed coverage on shares of Verizon Communications in a report on Thursday, January 22nd. They set an “equal weight” rating and a $43.00 price objective on the stock. Royal Bank Of Canada increased their target price 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. Finally, Morgan Stanley lifted their target price on Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.03.

Insider Activity at Verizon Communications

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the firm’s stock in a transaction dated 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 owned 43,782 shares in the company, valued at $2,189,100. This trade represents a 16.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph J. Russo sold 9,579 shares of Verizon Communications stock in a transaction that occurred on 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 directly owned 44,045 shares in the company, valued at $1,976,739.60. The trade was a 17.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 218,148 shares of company stock valued at $10,780,356 over the last quarter. 0.10% of the stock is 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.